MOSS COMPANY Selected Balance Sheet Information
December 31, 2017 and 2016
2017 2016
Current assets
Cash $ 91,650 $33,800
Accounts receivable 32,000 46,000
Inventory 67,000 55,500
Current liabilities
Accounts payable 44,400 32,700
Income taxes payable 2,750 3,600
MOSS COMPANY
Income Statement
For Year Ended December 31, 2017
Sales $554,000
Cost of goods sold 359,600
Gross profit 194,400
Operating expenses
Depreciation expense $50,000
Other expenses 129,000 179,000
Income before taxes 15,400
Income taxes expense 8,800
Net income $6,600
Use the information above to calculate this company’s cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)

Net cash flow from the operating activities is 69,950

Explanation:

                                   MOSS COMPANY

                   Cash flow from operating activities  

Net income                                                  $6,600

Adjustments to reconcile net income

to operating cash flow  

Depreciation expense               $50,000

Decrease account receivable   $14,000

(46,000 - 32,000)

Increase inventory                     -$11,500

( 55,500 - 67,000)

Increase account payable         $11,700

(44,400 - 32,700)

Decrease income tax payable   -$850

(2,750 - 3,600)

                                                    $63,350    $63,350

Net cash flow from operating activities     69,950

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