statement of cash flows

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A partial balance sheet for orange company is presented below.

Orange Company

Income statement

For 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 Company

Balance Sheet

As 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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