Question

The following accounts and corresponding balances were drawn from Pixi Company’s 2014 and 2013 year-end balance sheets:


The following accounts and corresponding balances were drawn from Pixi Company’s 2014 and 2013 year-end balance sheets:
Income Statement
Sales .............. $650,000
Salary expense ........... (420,000)
Other operating expenses ...... (110,000)
Operating income ......... 120,000
Non-operating items: Interest revenue ... 15,000
Net income ........... $135,000

Required
a. Use the direct method to compute the amount of cash inflows from operating activities.
b. Use the direct method to compute the amount of cash outflows from operatingactivities.


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  • CreatedOctober 12, 2013
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