Question: Based on the information below, determine the Cash Flows from Operations (CFO) Income Statement: + Sales: 750,000 - Cost of Goods Sold: 470,000 - Wages

Based on the information below, determine the Cash Flows from Operations (CFO)

Income Statement:

+ Sales: 750,000

- Cost of Goods Sold: 470,000

- Wages Expense: 110,000

- Rent Expense: 42,000

- Insurance Expense: 15,000

= Net Income: 113,000

Balance Sheet:

Accounts Receivable:

Beginning 49,000

Ending 54,000

Inventory:

Beginning 66,000

Ending: 60,000

Prepaid Insurance:

Beginning 7,000

Ending: 8,000

Accounts Payable:

Beginning 18,000

Ending: 22,000

Wages Payable:

Beginning 11,000

Ending: 9,000

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