Cash flow statement The diversified Portfolio Corp provides investment advice to customers A condensed income statement for the year ended December 31 2016 is below Service Revenue Cost of goods sold Gross Profit 22250 8000 14250 Depreciation Expense 1600 Selling and Admin Expenses 6000 Interest Expense 400 Income before income taxes 6250 Income tax expense 2500 Net Income 3750 Depreciation expense for the year was 1600 The following balance sheet information is also available Additional informa

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Answer1 DIVERSIFIED PORTFOLIO CORPORATION STATEMENT OF CASH FLOWS USING DIRECT METHOD FOR THE YEAR E... View the full answer