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

Question

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

Quizplus · Accepted Answer

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

Benton Corporation's Current Asset and Liability Balances for the Past