Roberts Company has provided the following partial comparative balance sheets and the income statement for 2016. Roberts

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Roberts Company has provided the following partial comparative balance sheets and the income statement for 2016.
Roberts Company has provided the following partial comparative balance sheets

Roberts Company
Income Statement
For the Year Ended December 31, 2016
Revenues..........................................$1,200,000
Gain on sale of equipment............................50,000
Less: Cost of goods sold...........................(650,000)
Less: Depreciation expense........................(125,000)
Less: Interest expense...............................(25,000)
Net income..........................................$ 450,000
Required:
Compute operating cash flows using the direct method.

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Cornerstones of Managerial Accounting

ISBN: 978-1305103962

6th edition

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

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