Question: The following schedule relates the income statement with cash flows from

The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods, in the format illustrated by Graphic 21-10 in the chapter. Some elements necessary to complete the schedule are missing.


Required:

Complete the schedule by determining each of the following missing elements:
1. Cash received from customers
2. Cost of goods sold
3. ? in salaries payable (Increase? or decrease?)
4. Cash paid for depreciation
5. Interest expense
6. Cash paid for insurance
7. Increase in income tax payable
8. Netincome
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  • CreatedJuly 11, 2013
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