The following data is supplied from the comparative balance sheets and income statement information from Moreno, Incorporated Net income for Year 2 was $40,000. No long-term assets were sold and no new notes were issued during Year 2. During Year 2, Moreno paid dividends of $24,000.
Consider the information provided.
Required:Prepare the operating activities section of Moreno's statement of cash flows using the indirect method.

Question

The following data is supplied from the comparative balance sheets and income statement information from Moreno, Incorporated Net income for Year 2 was $40,000. No long-term assets were sold and no new notes were issued during Year 2. During Year 2, Moreno paid dividends of $24,000.
Consider the information provided.
  Required:Prepare the operating activities section of Moreno's statement of cash flows using the indirect method.

Quizplus · Accepted Answer

The Answer of The following data is supplied from the comparative balance sheets and income statement information from Moreno, Incorporated Net income for Year 2 was $40,000. No long-term assets were sold and no new notes were issued during Year 2. During Year 2, Moreno paid dividends of $24,000.
Consider the information provided.
  Required:Prepare the operating activities section of Moreno's statement of cash flows using the indirect method.

The Following Data Is Supplied from the Comparative Balance Sheets