Spectacular corporation began the year with accountsreceivable, inventory, and prepaid expenses totaling $67,000. at the end of the year,

spectacular had a total of $78,000

for these current assets. at the beginning of the year, it owed current liabilities of $44,000,and at year-end, current liabilities totaled $43,000. net income for the year was $82,000. included in net income was a $3,000 gain on the sale of land and depreciation expense of $10,000.

show how spectacular should report cash flows from operating activities for the year. the company uses the indirect method

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $82,000

Adjustment made:

Add : Depreciation expense $10,000

Less  : Gain on the sale of land ($3,000)

Less: Increase in current assets -$11,000 ($78,000 - $67,000)

Less: Decrease in current liabilities -$1,000 ($43,000 - $44,000)

Total of Adjustments -$5,000

Net Cash flow from Operating activities $77,000

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the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.