Question: Health Spa Corporation completed its first year of operations on
Health Spa Corporation completed its first year of operations on December 31, 2012. The firm’s income statement for the year showed revenues of $210,000 and operating expenses of $78,000. Accounts receivable was $45,000 at year end and payables related to operating expense were $28,750 at year end. Compute net cash from operating activities using the direct method
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