Below is the income statement for Aaramco Company for the year 2020. Sales revenue Cost of...

 

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Below is the income statement for Aaramco Company for the year 2020. Sales revenue Cost of goods sold Beginning inventory Purchase Ending inventory Cost of goods sold Gross profit Operating expenses Selling expenses Income Statement for the year 2020 S Total amount (S) 883,200 243,200 563.200 (204,800) 49,600 Depreciation expense 8,000 Administration expense 89,600 Total expense Net income (601,600) 281.600 Information 2020 2019 Account Receivable 96,000 169,600 Prepaid expense 169,600 80,000 Account payable 152.000 249,600 Accrued expense 297,600 230,400 (147,200) 134,400 Details of current assets and current liabilities (in S) for two different years are given below Required Prepare cash flow from Operating activities section of Cashflow Statement for the year 2020. (25 marks) Below is the income statement for Aaramco Company for the year 2020. Sales revenue Cost of goods sold Beginning inventory Purchase Ending inventory Cost of goods sold Gross profit Operating expenses Selling expenses Income Statement for the year 2020 S Total amount (S) 883,200 243,200 563.200 (204,800) 49,600 Depreciation expense 8,000 Administration expense 89,600 Total expense Net income (601,600) 281.600 Information 2020 2019 Account Receivable 96,000 169,600 Prepaid expense 169,600 80,000 Account payable 152.000 249,600 Accrued expense 297,600 230,400 (147,200) 134,400 Details of current assets and current liabilities (in S) for two different years are given below Required Prepare cash flow from Operating activities section of Cashflow Statement for the year 2020. (25 marks)

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Answer To prepare the cash flow from operating activities section of the cash flow statement for the ... View the full answer