Question

Wildhorse Co. reported net income of $190,100 for 2019. Wildhorse also reported depreciation expense of 49,900 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,600 for the year, a $16,600 increase in accounts payable, and a $4,800 increase in prepaid expenses.

Required:
Prepare the operating activities section of the statement of cash flows for 2019.

Answer 1

Answer:

Wildhorse Co. reported net income of $190,100 for 2019. Wildhorse also reported depreciation expense of 49,900 and a loss of $6,300 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,600 for the year, a $16,600 increase in accounts payable, and a $4,800 increase in prepaid expenses.

Explanation:

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