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A company uses the indirect method to prepare the statement of cash flows. It presents the following amounts on its financial statements.


  End of this year End of prior year
Accounts receivable $105,000 $100,000
Cost of goods sold 550,000  
Sales revenue 850,000  
Accounts payable* 75,000 65,000
Inventory 85,000 106,000
Salary payable 15,000 11,000
Salary expense 50,000 42,000


*Relates solely to the acquisition of inventory.


What will appear in the operating activities section related to inventory?

A. The decrease of $21,000 will be subtracted from net income.
B. The decrease of $21,000 will be subtracted from cost of goods sold.
C. The decrease of $21,000 will be added to net income.
D. The decrease of $21,000 will be added to cost of goods sold.

 


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