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The income statement of Dillon Company is presente...




The income statement of Dillon Company is presented here. DILLON COMPANY Income Statement For the Year Ended November 30, 2011 Sales $7,678,800 Cost of goods sold Beginning inventory $1,858,600 Purchases 4,400,500 Goods available for sale 6,259,100 Ending inventory 1,384,400 Total cost of goods sold 4,874,700 Gross profit 2,804,100 Operating expenses Selling expenses 451,400 Administrative expenses 770,690 1,222,090 Net income $1,582,010 Additional information: Accounts receivable increased $245,250 during the year, and inventory decreased $474,200. Prepaid expenses increased $154,080 during the year. Accounts payable to suppliers of merchandise decreased $341,560 during the year. Accrued expenses payable decreased $103,500 during the year. Operating expenses include depreciation expense of $91,290. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2011, for Dillon Company, using the indirect method. (List amounts from largest positive to smallest positive followed by most negative to least negative, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number eg. -45 or parentheses eg (45).) Cash flows from operating activities $ Adjustments to reconcile net income to net cash provided by operating activities $ Net cash provided by operating activities $


Paper#7444 | Written in 18-Jul-2015

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