Question

Metzger Company completed its first year of operations on December 31, 2014.
Its initial income statement showed that Metzger had sales revenue of $198,000 and operating expenses of $83,000. Accounts receivable and accounts payable at year-end were $60,000 and $23,000, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.
Instructions
Compute net cash provided by operating activities using the direct method.



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  • CreatedApril 07, 2014
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