Sunland Company completed its first year of operations on December 31, 2022. Its initial income statement showed
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Sunland Company completed its first year of operations on December 31, 2022. Its initial income statement showed that Sunland had sales revenue of $194,300 and operating expenses of $84,400. Accounts receivable and accounts payable at year-end were $56,600 and $29,800, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes.
Compute net cash provided by operating activities using the direct method.
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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