Financial and Managerial Accounting: E14-16 Selected data derived from the income (Jones Soda)
Financial and Managerial Accounting E14-16 Selected data derived from the income statement and balance sheet of Jones Soda Co. for recent year are as follows: Income statement data (in thousands) Net earnings 4,574 Depreciation expense 256 Stock based compensation expense (noncash) 1,196
Balance Sheet data (in thousands) Increase in accounts receivable 3,214 Increase in inventory 1,089 Increase in prepaid expenses 566 Increase in accounts payable 1,891
Instructions: a. Prepare the cash flows from operating activities section of the statement of cash flows using the indirect method for Jones Soda co. for the year. b. Interpret your results in part (a).