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Rapture Company’s 2011 income statement and selected balance sheet data at December 31, 2010 and 2011, follow ($ thousands).
RAPTURE COMPANY
Income Statement
For Year Ended December 31, 2011
Sales revenue $ 61,600
Expenses
Cost of goods sold 21,000
Depreciation expense 4,500
Salaries expense 11,000
Rent expense 2,500
Insurance expense 1,800
Interest expense 1,700
Utilities expense 1,200
Net income $ 17,900
RAPTURE COMPANY
Selected Balance Sheet Accounts
At December 31 2011 2010
Accounts receivable $ 370 $ 383
Inventory 93 77
Accounts payable 114 122
Salaries payable 40 26
Utilities payable 10 6
Prepaid insurance 10 13
Prepaid rent 8 11
Required. -Prepare the cash flows from operating activities section only of the company’s 2011 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter your answer in thousands of dollars.)
RAPTURE COMPANY
Income Statement
For Year Ended December 31, 2011
Sales revenue $ 61,600
Expenses
Cost of goods sold 21,000
Depreciation expense 4,500
Salaries expense 11,000
Rent expense 2,500
Insurance expense 1,800
Interest expense 1,700
Utilities expense 1,200
Net income $ 17,900
RAPTURE COMPANY
Selected Balance Sheet Accounts
At December 31 2011 2010
Accounts receivable $ 370 $ 383
Inventory 93 77
Accounts payable 114 122
Salaries payable 40 26
Utilities payable 10 6
Prepaid insurance 10 13
Prepaid rent 8 11
Required. -Prepare the cash flows from operating activities section only of the company’s 2011 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign. Enter your answer in thousands of dollars.)
Please help with accounting?
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