Following Are the Income Statement and Some Additional Information for Carolina

question 36

Essay

Following are the income statement and some additional information for Carolina Consulting Company.

All sales were on credit and accounts receivable decreased by $900 in 2016 compared to 2015.Merchandise purchases were on credit with a decrease in accounts payable of $700 during the year.Ending inventory was $500 larger than beginning inventory.Income taxes payable increased $300 during the year.All operating expenses were paid for in cash.
Required:
Prepare the cash flows from operating activities section of the statement of cash flows using the direct method.

---

Definitions:

Intellectually Disabled

A term used to describe individuals with significant limitations in both intellectual functioning and in adaptive behavior, which covers many everyday social and practical skills.

Academic Skills

Abilities and competencies essential for successful learning and performance in educational settings, such as reading, writing, and critical thinking.

Males

Biological sex characterized by XY chromosomes, typically involving specific sexual and physical characteristics distinct from females.

Predictive Validity

The extent to which a test or measurement accurately forecasts or predicts future behaviors, outcomes, or performances.