statement of cash flows
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Free InquiryA partial balance sheet for orange company is presented below.
Orange CompanyIncome statementFor the year Ended December 31, 2019 |
||
Sales |
$100,000 |
|
Cost of goods sold |
(67,000) |
|
Gross Profit |
$33,000 |
|
Operating expenses: |
||
Salaries |
$5,000 |
|
Depreciation expense |
2,000 |
|
Miscellaneous |
1,000 |
(8,000) |
Net Income |
$25,000 |
Orange CompanyBalance SheetAs at 31st December 2019 |
||
2018 |
2019 |
|
$1,800 |
$2,250 |
Cash |
7,200 |
2,700 |
Account receivable |
4,950 |
5,670 |
Inventories |
500 |
450 |
Prepaid expenses |
6,300 |
9,000 |
Furniture |
1,350 |
1,350 |
Accounts Payable |
180 |
1,080 |
Salaries Payable |
4,000 |
4,500 |
Short term Bank Loan |
Required: Prepare the operating activities section of the statement of cash flows using indirect method. Easy 6 company analysis techniques to use today Answer 2 Scenario Questions Accurately Now
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