Question: answer Question 3 (30 marks) a. The income statement and a partial balance sheet for Mango Company are presented below. Mango Company Income statement For
Question 3 (30 marks) a. The income statement and a partial balance sheet for Mango Company are presented below. Mango Company Income statement For the year Ended December 31, 2020 $260,000 Sales 105,600 Cost of goods sold $154,400 Gross Profit Operating expenses: Salaries $24,000 16,000 Depreciation expense Miscellaneous 10,600 50,600 Net Income $103,800 Mango Company Balance Sheet As at 31st December 2020 Cash 2016 224,000$ 100,000$ Account receivable Inventories 13,200 8,800 8,000 16,800 Prepaid expenses Accounts Payable 10,800 6,200 6,120 10,800 8,800 5,320 Salaries Payable D Required: Prepare the operating activities section of the statement of cash flows using indirect method. (15 Marks) Ou P
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