Partial Balance Sheets and Additional Information Are Listed Below for Sowell

question 82

Essay

Partial balance sheets and additional information are listed below for Sowell Company. Sowell Company
Partial Balance Sheets
as of December 31
$\begin{array}{|l|l|l|}\hline \text { Assets } & 2018 & 2017 \\\hline \text { Cash } & \$ 40,000 & \$ 20,000 \\\hline \text { Accounts receivable } & 70,000 & 85,000 \\\hline \text { Inventory } & 40,000 & 35,000 \\\hline \text { Liabilities } & & \\\hline \text { Accounts payable } & \$ 54,000 & \$ 62,000 \\\hline\end{array}$ Additional information for 2018:
Net income was $88,000.
Depreciation expense was $19,000.
Required:
Prepare the operating activities section of the statement of cash flows for 2018 using the indirect method.

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Definitions:

Cultures

The shared beliefs, norms, behaviors, and symbols that a group of people accepts, generally without thinking about them, and that are passed along by communication and imitation.

McCrae and Costa

McCrae and Costa are best known for their development of the Five Factor Model of personality, which outlines five broad dimensions of personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Sociability

The tendency to seek and enjoy the company of others; being friendly and social.

Emotionality

The observable behavioral and physiological component of emotion; refers to a person's intensity and frequency of emotional expressions.