Starfire Telescopes Company uses the indirect method to prepare the statement of cash flows.Refer to the following income statement:

Additional information provided by the company includes the following:
Current assets other than cash decreased by $25,000.
Current liabilities increased by $3,000.
Prepare the operating activities section of the statement of cash flows.

Question

Starfire Telescopes Company uses the indirect method to prepare the statement of cash flows.Refer to the following income statement:

Additional information provided by the company includes the following:
Current assets other than cash decreased by $25,000.
Current liabilities increased by $3,000.
Prepare the operating activities section of the statement of cash flows.

Quizplus · Accepted Answer

The Answer of Starfire Telescopes Company uses the indirect method to prepare the statement of cash flows.Refer to the following income statement:

Additional information provided by the company includes the following:
Current assets other than cash decreased by $25,000.
Current liabilities increased by $3,000.
Prepare the operating activities section of the statement of cash flows.

Starfire Telescopes Company Uses the Indirect Method to Prepare the Statement