Bloom Corporation had the following 2012 income statement. Sales $200,000 Cost of goods sold 120,000 Gross profit 80,000 Operating expense (including depreciation of $21,000)
Bloom Corporation had the following 2012 income statement.
Sales $200,000
Cost of goods sold
120,000
Gross profit 80,000
Operating expense (including depreciation of $21,000)
50,000
Net income
$30,000
The following accounts increased during 2012: accounts receivable $12,000; inventory $11,000; accounts payable $13,000. Complete the cash flows from operating activities section of Bloom’s 2012 statement of cash flows using the direct method
ATTACHMENT PREVIEW
Download attachment
BE23-4
Bloom Corporation had the following 2012 income statement.
Sales
$200,000
Cost of goods sold
120,000
Gross profit
80,000
Operating expense (including depreciation of $21,000)
50,000
Net income
$30,000
The following accounts increased during 2012: accounts receivable $12,000; inventory $11,000; accounts payable
$13,000. Complete the cash flows from operating activities section of Bloom’s 2012 statement of cash flows using the
direct method.
