MOSS COMPANY Selected Balance Sheet Information
December 31, 2017 and 2016
2017 2016
Current assets
Cash $ 91,150 $ 33,300
Accounts receivable 31,500 45,000
Inventory 66,500 55,400
Current liabilities
Accounts payable 43,400 32,200
Income taxes payable 2,700 3,500

MOSS COMPANY
Income Statement
For Year Ended December 31, 2017
Sales $ 549,000
Cost of goods sold 357,600
Gross profit 191,400
Operating expenses
Depreciation expense $ 49,000
Other expenses 128,500 177,500
Income before taxes 13,900
Income taxes expense 8,100
Net income $ 5,800

Use the information above to calculate this company’s cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)

Cash flows from operating activities:
Adjustments to reconcile net income to operating cash flow
0
$0

                      MOSS COMPANY

         Cash Flows from Operating Activities

Net income                                                                $5,800

Adjustments to net income:

Net cash flow from operating activities                 $67,600

Depreciation expense and increase in accounts payable or taxes payable increase the cash flows from operating activities. Also, any decrease in accounts receivable, inventories or prepaid assets increase the cash flow.

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