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Patterson Company's has provided the following financial information for last ...

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Patterson Company's has provided the following financial information for last ...

Patterson Company's has provided the following financial information for last year.

Sales	$230,000
Cost of goods sold	160,000
Operating expenses (includes $3,000 depreciation)	46,000
Accounts receivable beginning/ending balances	$25,000 and $20,000
Inventory beginning/ending balances	29,000 and 25,000
Accounts payable beginning/ending balances	27,000 and 20,000

Required:

Using the direct 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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