Question: Fast and correct answer will be appreciated. Use the following information to prepare the operating activities section of the statement of cash flows using the


Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method Wonder Company Income Statement For Year Ended December 31, 2019 Sales 90,000 Cost of goods sold 52.000 Gross profit from sales 38,000 Operating expenses: Salaries expense Depreciation expense Rent expense Interest expense Income from operations Loss on sale of land Net income 12,500 3,500 3,600 950 20,550 17,450 1.750 15,700 Balance December 31, 2019 December 31, 2018 Accounts receivable 13,800 12,000 Merchandise inventory 11,150 10,000 Prepaid rent 275 2001 Accounts payale 13,550 13,000 Salaries payable 5,200 4.500 150 125 Interest payable
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
