1. 2 3. The income statement of Crane Company is presented here. 5. Crane Company Income Statement For the Year Ended November 30, 2025 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Additional information: Administrative expenses Net income Additional information: $1,878,300 4,387,900 6,266,200 1,575,000 454,100 Adjustments to reconcile net income to 699.100 $7,663,600 4,691,200 2,972,400 1.153,200 $1,819,200 Accounts receivable decreased $386,900 during the year, and inventory decreased $303,300. Prepaid expenses increased $148,000 during the year. Accounts payable to suppliers of inventory decreased $348,300 during the year. Accrued expenses payable decreased $98.000 during the year. Administrative expenses include depreciation expense of $112,000. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2025. for Crane Company, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) CRANE COMPANY Statement of Cash Flows (Partial) - Indirect Method CRANE COMPANY Statement of Cash Flows (Partial) - Indirect Method
1. 2 3. The income statement of Crane Company is presented here. 5. Crane Company Income Statement For the Year Ended November 30, 2025 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Selling expenses Additional information: Administrative expenses Net income Additional information: $1,878,300 4,387,900 6,266,200 1,575,000 454,100 Adjustments to reconcile net income to 699.100 $7,663,600 4,691,200 2,972,400 1.153,200 $1,819,200 Accounts receivable decreased $386,900 during the year, and inventory decreased $303,300. Prepaid expenses increased $148,000 during the year. Accounts payable to suppliers of inventory decreased $348,300 during the year. Accrued expenses payable decreased $98.000 during the year. Administrative expenses include depreciation expense of $112,000. Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2025. for Crane Company, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000)) CRANE COMPANY Statement of Cash Flows (Partial) - Indirect Method CRANE COMPANY Statement of Cash Flows (Partial) - Indirect Method
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter6: Cost Of Goods Sold And Inventory
Section: Chapter Questions
Problem 73BPSB: ( Appendix 6B) Inventory Costing Methods Grencia Company uses a periodic inventory system. For 2018...
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Transcribed Image Text:1.
2
3.
The income statement of Crane Company is presented here.
5.
Crane Company
Income Statement
For the Year Ended November 30, 2025
Sales revenue
Cost of goods sold
Beginning inventory
Purchases
Goods available for sale
Ending inventory
Total cost of goods sold
Gross profit
Operating expenses
Selling expenses
Additional information:
Administrative expenses
Net income
Additional information:
$1,878,300
4,387,900
6,266,200
1,575,000
454,100
Adjustments to reconcile net income to
699.100
$7,663,600
4,691,200
2,972,400
1.153,200
$1,819,200
Accounts receivable decreased $386,900 during the year, and inventory decreased $303,300.
Prepaid expenses increased $148,000 during the year.
Accounts payable to suppliers of inventory decreased $348,300 during the year.
Accrued expenses payable decreased $98.000 during the year.
Administrative expenses include depreciation expense of $112,000.
Prepare the operating activities section of the statement of cash flows for the year ended November 30, 2025, for Crane Company,
using the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg. (15,000))
CRANE COMPANY
Statement of Cash Flows (Partial) - Indirect Method
CRANE COMPANY
Statement of Cash Flows (Partial) - Indirect Method
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