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Benton Corporation's current asset and liability balances for the past two years are as follows. ...

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Benton Corporation's current asset and liability balances for the past two years are as follows. ...

Benton Corporation's current asset and liability balances for the past two years are as follows. Net income for the year was $150,000, depreciation expense was $22,000, and gain on sale of land was $28,000.

Prior year

Current year

Accounts receivable	$ 80,000	$ 92,000
Inventory	120,000	110,000
Accounts payable	35,000	30,000
Accrued liabilities	12,000	8,000

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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Good timing, thanks!

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