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Continental Merchandising Inc

Question 82

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Continental Merchandising Inc.'s current assets and liabilities at December 31, 2014 are as follows: Continental Merchandising Inc.'s current assets and liabilities at December 31, 2014 are as follows: Continental had profit of $83,500 in 2014. Included in the calculation of profit is depreciation of building and equipment in the amount of $45,000 and amortization of a patent in the amount of $1,000. Instructions Prepare the operating section of Continental's cash flow statement for the year ended December 31, 2014, using the indirect method. Continental had profit of $83,500 in 2014. Included in the calculation of profit is depreciation of building and equipment in the amount of $45,000 and amortization of a patent in the amount of $1,000.
Instructions
Prepare the operating section of Continental's cash flow statement for the year ended December 31, 2014, using the indirect method.

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