Using the information provided in Problem 23-9A for Zowine Company, prepare the following:

In Problem 23-9A Zowine Company's condensed income statement for the year ended December 31, 20-2, was as follows:

Net sales ...........................$765,000

Cost of goods sold ............ 550,000

Gross profit ......................$215,000

Operating expenses ........... 30,000

Income before taxes .......$185,000

Income tax expense ........... 65,000

Net income .......................$120,000

Additional information obtained from Zowine's comparative balance sheets as of December 31, 20-2 and 20-1, was as follows:

1. A schedule for the calculation of cash generated from operating activities for Zowine Company for the year ended December 31, 20-2.

2. A partial statement of cash flows for Zowine Company reporting cash from operating activities under the direct method for the year ended December 31, 20-2.

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20-1 20-2 $60,000 70,000 80,000 55,000 $ 20,000 100,000 125,000 90,000 Cash Accounts reccivable Merchandise inventory Accounts payable