Question: Oliver Company provided the following information for the years 2011 and 2012:
Operating Cash Flows Refer to the information for Oliver Company above.
Required: 1. Calculate the change in cash flows that serves as the control figure for the statement of cash flows.
2. Prepare a schedule that provides operating cash flows for the year 2012 using the indirect method.
3. Assume that you have all the information provided for Requirement 1 except that you only know the beginning balance of accounts receivable for 2012. Given this information and assuming that the operating cash flows for 2012 are $41,000, calculate the ending balance for accounts receivable.