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This question was created from ACC 351 Ch 21

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This question was created from ACC 351 Ch 21 https://www.coursehero.com/file/11356396/ACC-351-Ch-21/

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In its 2013 Annual Report to Shareholders, Sisters Corporation included the following information on
cash flows from operations: CONSOLDDATED STATEIVEENTS OF CASH FLOWS (in $ thousands) 2013 2012 Operating activities: Net income $10680 $30.100 Adjustments to reconcile to net cash provided by operating activities: Depreciation and amortization 25.?34 20.05!
Deferred income taxes 5.156 9,835
Equity income {486) (864)
Changes in operating assets and liabilities:
Receivables ] 7‘88 8 (33,0 18 )
Inventories 39.33 1 (10.173 )
Accounts payable and accrued expenses (2333?) 13.515
Prepaids and otherwnet g 10,9 l 3) 5, 893
Net Cash Provided by Operating Activities 63 653 35,339 I48.Explain why Sisters Corporation subtracts equity income from its net income in its measurement of cash
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