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The following information is from the comparative balance
sheets of Discovery Tech Corporation at June 30, 2011 AND
2010
(IN THOUSANDS) AT June
30 2011 2010
Current Assets:
Cash
$2,750 $2,115
Accounts Receivable
3,000 2,750
Inventory
1,700 1,025
Prepaid Insurance
270 320
Total Current Assets
$7,720 $6,210
Current Liabilitieis
Accounts payable
$1,800 $1,750
Salaries Payable
$3,750 $3,150
Total Current Liabilities
$5,550 $4,900
Net income for the year ended Jan 30, 2011, was $425,000.
Depreciation expense of $105,000 was included in the operating
expenses for the year.
Requirement
Use the indirect method to prepare the cash from operations
section of the statement of cash flows for Discovery Tech
Corportation for the year ended June 30, 2011
The following information is from the comparative balance sheets of .docx

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The following information is from the comparative balance sheets of .docx

  • 1. The following information is from the comparative balance sheets of Discovery Tech Corporation at June 30, 2011 AND 2010 (IN THOUSANDS) AT June 30 2011 2010 Current Assets: Cash $2,750 $2,115 Accounts Receivable 3,000 2,750 Inventory 1,700 1,025 Prepaid Insurance 270 320 Total Current Assets $7,720 $6,210 Current Liabilitieis Accounts payable $1,800 $1,750 Salaries Payable $3,750 $3,150 Total Current Liabilities $5,550 $4,900 Net income for the year ended Jan 30, 2011, was $425,000. Depreciation expense of $105,000 was included in the operating expenses for the year. Requirement Use the indirect method to prepare the cash from operations section of the statement of cash flows for Discovery Tech Corportation for the year ended June 30, 2011