Refer to the data for Novations, Inc., in Problem 5-47. Instructions: 1. Prepare an income statement for
Question:
Instructions:
1. Prepare an income statement for Novations, Inc., for the year ended December 31, 2011.
2. Prepare a statement of cash flows for the year ended December 31, 2011, using the indirect method.
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1 Novations Inc Income Statement For the Year Ended December 31 2011 Sales 704000 Cost of goods sold 368000 Gross profit 336000 Operating expenses 185...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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