Brief Exercise 23-5Bloom Corporation had the following 2014 income statement.Sales revenue $200,000Cost of goods sold 120,000Gross profit 80,000Operating expenses (includes depreciation of $21,000) 50,000Net income $30,000

The following accounts increased during 2014: Accounts Receivable $12,000; Inventory $11,000; Accounts Payable $13,000. Prepare the cash flows from operating activities section of Bloom’s 2014 statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Bloom Corporation

Statement of Cash Flows-Indirect Method (Partial)

For the Year 2014

 Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash   Increase in InventoryIncrease in Accounts PayableDecrease in Accounts PayableNet IncomeCash Payment to SuppliersIncrease in Accounts ReceivableDecrease in InventoryCash Received from CustomersCash Payment for Operating ExpensesDecrease in Accounts ReceivableDepreciation expense $Adjustments to reconcile net income to   Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash      Increase in Accounts Receivable    Cash Payment to Suppliers    Increase in Accounts Payable    Depreciation expense    Decrease in Accounts Receivable    Decrease in Accounts Payable    Cash Received from Customers    Increase in Inventory    Cash Payment for Operating Expenses    Decrease in Inventory    Net Income    $     Increase in Accounts Payable    Decrease in Accounts Payable    Net Income    Increase in Accounts Receivable    Cash Received from Customers    Cash Payment to Suppliers    Decrease in Accounts Receivable    Increase in Inventory    Decrease in Inventory    Cash Payment for Operating Expenses    Depreciation expense         Increase in Accounts Receivable    Decrease in Accounts Payable    Decrease in Accounts Receivable    Cash Payment for Operating Expenses    Depreciation expense    Net Income    Cash Payment to Suppliers    Increase in Accounts Payable    Increase in Inventory    Cash Received from Customers    Decrease in Inventory         Decrease in Accounts Receivable    Cash Received from Customers    Increase in Accounts Receivable    Increase in Inventory    Cash Payment to Suppliers    Cash Payment for Operating Expenses    Decrease in Inventory    Depreciation expense    Increase in Accounts Payable    Decrease in Accounts Payable    Net Income        Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash Used by Financing ActivitiesNet Cash Used by Investing ActivitiesNet Cash Used by Operating ActivitiesNet Decrease in CashNet Increase in Cash $ Click if you would like to Show Work for this question:Open Show Work

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