Verna Company s records provided the following

information for 2016 a Decrease #2621

Verna Company’s records provided the following information for 2016:a. Decrease in accounts
payable, $4,600b. Loss on sale of land, $1,900c. Increase in inventory, $7,800d. Increase in
income taxes payable, $2,700e. Net income, $68,400f. Patent amortization expense, $1,600g.
Ordinary' loss, $6,200h. Decrease in deferred taxes payable, $2,500i. Amortization of discount
on bonds payable, $1,300j. Payment of cash dividends, $24,000k. Depiction expense, $5,000l.
Decrease in salaries payable, $1,400m. Decrease in accounts receivable, $3,500n. Gain on
sale of equipment, $6,100o. Proceeds from issuance of stock, $57,000p. Ordinary gain,
$3,700q. Depreciation expense, $10,000r. Amortization of discount on investment in bonds,
$1,500Required:Prepare the operating activities section of Verna’s 2016 statement of cash
flows.View Solution:
Verna Company s records provided the following information for 2016 a Decrease

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