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The records of McKnight Color Engraving reveal the following

Price: $2.99


The records of McKnight Color Engraving reveal the following:

Net income $ 38,000
Depreciation $ 4,000
Sales revenue 51,000
Decrease in current liabilities 28,000
Loss on sale of land 5,000
Increase in current assets
Acquisition of land 39,000
other than cash 14,000

Requirements

1. Compute cash flows from operating activities by the indirect method.

2. Evaluate the operating cash flow of McKnight Color Engraving. Give the reason
for your evaluation.

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