Please prepare of Statement of cash flows using the indirect method Sales Cost of Goods Sold Gross
Fantastic news! We've Found the answer you've been seeking!
Question:
Please prepare of Statement of cash flows using the indirect method
Transcribed Image Text:
Sales Cost of Goods Sold Gross Profit Operating Expenses Insurance Expense Beaumont Organic Foods Ltd. Income Statement Year Ended Dec 31, 2022 6,773,924 (3,866,350) 2021 5,700,000 (3,135,000) 2,907,574 2,565,000 (22,200) (14,400) Sales and Warehouse Salaries (719,000) (490,000) Sales Bonus Expense (180,000) Distribution and Warehouse Expenses (855,400) (658,000) Office and administrative expense (290,000) (150,000) Marketing and advertising expense (170,000) Bad debts expense Utilities expense (41,275) (21,000) Depreciation expense (175,000) (46,700) Loss on inventory (expense) (38,000) Bank service charges and overdraft fees (120) Rent expense (175,000) Total Operating Expenses (2,511,995) Operating Profit Non-Operating Items Interest expense Gain on sale of equipment Profit before tax Income tax expense Profit 395,579 (1,534,100) 1,030,900 (191,602) (43,724) 2,000 (189,602) (43,724) 205,977 987,176 (41,195) (148,076) 164,782 839,100 Sales Cost of Goods Sold Gross Profit Operating Expenses Insurance Expense Beaumont Organic Foods Ltd. Income Statement Year Ended Dec 31, 2022 6,773,924 (3,866,350) 2021 5,700,000 (3,135,000) 2,907,574 2,565,000 (22,200) (14,400) Sales and Warehouse Salaries (719,000) (490,000) Sales Bonus Expense (180,000) Distribution and Warehouse Expenses (855,400) (658,000) Office and administrative expense (290,000) (150,000) Marketing and advertising expense (170,000) Bad debts expense Utilities expense (41,275) (21,000) Depreciation expense (175,000) (46,700) Loss on inventory (expense) (38,000) Bank service charges and overdraft fees (120) Rent expense (175,000) Total Operating Expenses (2,511,995) Operating Profit Non-Operating Items Interest expense Gain on sale of equipment Profit before tax Income tax expense Profit 395,579 (1,534,100) 1,030,900 (191,602) (43,724) 2,000 (189,602) (43,724) 205,977 987,176 (41,195) (148,076) 164,782 839,100
Expert Answer:
Answer rating: 100% (QA)
Cash flows from operating activities Net income 164782 Adjustments to reconcile net income to net cash provided by operating activities Depreciation e... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Prepare the statement of cash flows using the indirect method. The income statement for 2014 and the balance sheets for 2014 and 2013 are presented for Griffin Industries. Additional information...
-
Prepare a statement of cash flows using the indirect method. The income statement for 2017 and the balance sheets for 2017 and 2016 are presented for Harding Industries, Inc. Additional information...
-
What constant should replace the question mark in this system so that the solution set is {(1, 1, 1)}? 2x - 3y + -5x + 2y z = 0 - 2 = x + y + 2z = ? 4 -4
-
Your manager pulls you aside as you both are leaving a presentation by the marketing director, and says, "I'm confused. Can you please explain the difference between a podcast, a Web conference, a...
-
A $6500 Joan at 5.75% was advanced on June 17, 2013. How much interest was due when the Joan was repaid on October 1, 2013?
-
Refer to the information in Exercise 17-7 to answer the following requirements. Required 1. Using ABC, compute the overhead cost per unit for each product line. 2. Determine the total cost per unit...
-
Lorena Lally and Allie Raras formed a partnership on March 15. The partners agreed to invest equal amounts of capital. Lally invested her proprietorships assets and liabilities (credit balances in...
-
Solving via linear equation No unread replies.No replies. A small country exports soybeans and flowers. Soybeans require 8 workers per acre, flowers require 12 workers per acre, and 100,000 workers...
-
Comparative Statements of Retained Earnings for Renn Dever Corporation were reported as follows for the fiscal years ending December 31, 2022, 2023, and 2024. No preferred stock or potential common...
-
The following table represents the total amount of money, a, in billions of dollars spent on health care in a country in different years, t. Year Amount 1970 1980 1985 1990 1995 2000 2003 2005 2008...
-
@M zain do not respond to this question again!!! You need to stop posting ridiculous solutions to my question. You literally respond in seconds after this question that I post with crazy weird...
-
Sunland Sdn. Bhd. has land, buildings, and machinery as its Plant, Property, and Equipment as of 31 December 2015. The company uses the straight-line depreciation method for all depreciable assets...
-
1.2 Discuss the various modes of delivery (contract of sale) (10 marks) 1.3 Differentiate between suspensive and resolutive condition (5 marks)
-
1.What are the four basic assumptions underlying GAAP? 2.Briefly define the financial accounting elements: (1) assets, (2) liabilities, (3) equity, (4) investments by owners, (5) distributions to...
-
Alka-Seltzer Inc. has decided to purchase some new equipment. Alka-Sletzer can only pay $10,000 of the $200,000 purchase price and must finance the remainder on a long term note. The credit will go...
-
Define the following terms: Established Cell Line: Cell Strain: Histotypic Culture: Explant: Clone:
-
I frequently use NY Times and CNN and am aware of Fox News but I never use it. I visit these sites, NY Times and CNN, a few times a week whenever I have to research something or see something on...
-
Classify each of the following quality- related costs as prevention costs, appraisal costs, internal failure costs, or external failure costs. 1. Incremental cost of using a higher- grade raw...
-
Sparkle Soda spends $ 1 on direct materials, direct labor, and variable manufacturing overhead for every unit (12- pack of soda) it produces. Fixed manufacturing overhead costs $ 3 million per year....
-
Keister Natural Dairy processes organic milk into plain yogurt. Keister sells plain yogurt to hospitals, nursing homes, and restaurants in bulk, one- gallon containers. Each batch, processed at a...
-
The group \(\mathrm{D}_{3}\) in Schoenflies notation (32 in international notation, which is read "three-two"; see Table 5.1 ) consists of the proper (those not reflections or inversions) covering...
-
Derive the two-dimensional matrix representation Tic)=(2) Tin)=(3) Tex)=(37) (69) T(c2b)= 1 TO)-(71) 10-(11) TO=(9) = for the group D3, using the basis (e1, e2) defined in the following figure.
-
Prove that the matrix representation of \(\mathrm{D}_{3}\) worked out in Problem 5.6 is irreducible. Data from Problem 5.6 Derive the two-dimensional matrix representation Tic)=(2) Tin)=(3)...
Study smarter with the SolutionInn App