B-13.06 -08 Bonds at par, premium and discount – straight line amortization
No Ch 15 HW
Preparing the operating section of the statement of cash flows - indirect
Gainesville Corporation's income statement revealed sales of $700,000; gross profit of $300,000; selling and administrative costs of $140,000; and income taxes of $45,000. The selling and administrative expenses included $10,000 for depreciation. The company's operating activities generated positive cash flow of $129,000. Use the "indirect" approach to demonstrate how this amount was calculated. The following additional information is available:
