Partial balance sheets and additional information are listed below for Rickey Company.
Additional information for 2009:
Net income was $160,000.
Depreciation expense was $20,000.
Required:
Prepare the operating activities section of the statement of cash flows for 2009 using the indirect method.
Rickey Company
Partial Balance Sheets
as of December 31
$\begin{array}{lrr}\text { Assets }&2009&2008\
\text { Cash } & \$ 20,000 & \$ 40,000 \
\text { Accounts receivable } & 85,000 & 70,000 \
\text { Inventory } & 35,000 & 40,000\\text { Liabilities }\\text { Accounts payable }&\$62,000&\$80,000
\end{array}$

Question

Partial balance sheets and additional information are listed below for Rickey Company.
Additional information for 2009:
Net income was $160,000.
Depreciation expense was $20,000.
Required:
Prepare the operating activities section of the statement of cash flows for 2009 using the indirect method.
 Rickey Company
Partial Balance Sheets
as of December 31
$\begin{array}{lrr}\text { Assets }&2009&2008\
\text { Cash } & \$ 20,000 & \$ 40,000 \
\text { Accounts receivable } & 85,000 & 70,000 \
\text { Inventory } & 35,000 & 40,000\\text { Liabilities }\\text { Accounts payable }&\$62,000&\$80,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Partial balance sheets and additional information are listed below for Rickey Company.
Additional information for 2009:
Net income was $160,000.
Depreciation expense was $20,000.
Required:
Prepare the operating activities section of the statement of cash flows for 2009 using the indirect method.
 Rickey Company
Partial Balance Sheets
as of December 31
$\begin{array}{lrr}\text { Assets }&2009&2008\
\text { Cash } & \$ 20,000 & \$ 40,000 \
\text { Accounts receivable } & 85,000 & 70,000 \
\text { Inventory } & 35,000 & 40,000\\text { Liabilities }\\text { Accounts payable }&\$62,000&\$80,000
\end{array}$

Partial Balance Sheets and Additional Information Are Listed Below for Rickey