Statement of Casf Flows
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P4-3A
The income statement of Dreamworks International Co. for the year ended December 31, 2002, reported the following condensed information.
Revenue from fees $470,000
Operating expenses 280,000
Income from operations 190,000
Income tax expense 47,000
Net income $143,000
________
Dreamworks' balance sheet contained the following comparative data at December 31.
(see attached file)
Dreamworks has no depreciable assets. (Accounts payable pertains to operating expenses.)
Instructions
Prepare the operating activities section of the statement of cash flows using the direct method.
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Solution Summary
The solution explains how to prepare the operating activities section of the statement of cash flows
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