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Brief Exercise 23-5

Bloom Corporation had the following 2014 income statement.

Sales revenue 
$200,000
Cost of goods sold 
120,000
Gross profit 
80,000
Operating expenses (includes depreciation of $21,000) 
50,000
Net income 
$30,000

The following accounts increased during 2014: Accounts Receivable $12,000; Inventory $11,000; Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom’s 2014 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Bloom Corporation
Statement of Cash Flows-Indirect Method (Partial)
For the Year 2014
  
 
$
  
$
 
$[removed]
 

 

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