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Burton Company's current asset and liability balances for the past two years are as follows. Net ...

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Burton Company's current asset and liability balances for the past two years are as follows. Net ...

Burton Company's current asset and liability balances for the past two years are as follows. Net income for the year was $120,000 and depreciation expense was $15,000.

Prior year

Current year

Accounts receivable	$ 80,000	$ 65,000
Inventory	130,000	140,000
Accounts payable	45,000	40,000
Accrued liabilities	12,000	15,000

Required:

Using the indirect method, prepare the cash flows provided by operating activities section of the statement of cash flows.

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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