Do Homework victona Lentz Goog ie Chrome Serure httpswwwmat

Do Homework- victona Lentz - Goog ie Chrome ?Serure https://www.mathal homeworkld-4605616questionld 18tlushed falsecld-5042385&centerwin-yes; ACC 202-21D Managerial Accounting Summer 2018 Online Upton Victoria Lentz | 7/12/18 3:15 PM Homework: Chapter 13 Homework Score: 0 of 20 pts E13-15A (book/static) Save 43 of 5(1 complete)> HW Score: 0%, 0 of 100 pts Question Help Ericson Corporation has the following activities for the past year EEB (Click the icon to wew the data Prepare the operating activities section of Ericson Corporation\'s statement of cash lows for the yearended December 31, using the indirert metnad lor operating cash tows (Use parenthss or a mins sign for numbers to be subtracoed Ericson Corporation Statement of Cash Flows-Operating Activities Section (Indirect Method) For the Year Ended December 31 Data Table Operating Activitles: Net income Payment of dividends Proceeds trom issuance ot stock Purchase of treasury stock Sales revenue Payment of long-term note payable necrease in current liabilties S 49,0DD S 14,000 2D,ODD S 13,000 Purchase of equiprment with cashS 26,000 Cost ot goods soid Other operaling expenses Depreciation expense Adjustments to reconcile net income to cash basi5 6,000 124 DIXI Proceeds trom sale ot land S 19,DD 13,000 9,D00 Net cash provided by (used for) operating activities Increase in current assets other than cash S 6,0D Print Done Choose trom any list or enter any number in the input tields and then click Check Answer All parts showing Clear AI Check Answer O Type here to search 3:15 PM /12/2018

Solution

Income Statement

Sales revenue

$ 124,000.00

Cost of goods sold

$ 49,000.00

Other operating expenses

$ 14,000.00

Depreciation expense

$ 20,000.00

Net income

$ 41,000.00

Ericson Corporation

Statement of Cash Flows (Indirect method)

For the year ended December 31

Operating activities

Net income

$ 41,000.00

Adjustments to reconcile net income to cash basis

Depreciation expense

$ 20,000.00

Increase in current assets other than cash

-$ 6,000.00

Decrease in currrent liabilities

-$ 9,000.00

$ 5,000.00

Net cash provided by (ued for) operating activities

$ 46,000.00

Income Statement
Sales revenue	$ 124,000.00
Cost of goods sold	$ 49,000.00
Other operating expenses	$ 14,000.00
Depreciation expense	$ 20,000.00
Net income	$ 41,000.00