Question: Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations. Required: Complete the following income statement for Electronic

Cash flows from operating activities for both the indirect and direct methods are presented for Electronic Transformations.

Required:
Complete the following income statement for Electronic Transformations. Assume all accounts payable are tosuppliers.

ELECTRONIC TRANSFORMATIONS Income Statement For the year ended December 31, 2015 Net sales Expenses Operating expenses Depreciation expense Income tax expense Total expenses 9,000 Net income $36,000

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