MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross...

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MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable. Inventory. Current liabilities Accounts payable Income taxes payable $91,150. 31,500 66,500 43,400 2,700 2020 $ 549,000 357,600 191,400 128,500 49,000 13,900 8,100. $ 5,800 $.33,300 45,000 55,400 32,200 3,500 Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to should be indicated by a minus sign.) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities income statement items not affecting cash MUSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets. Cash Accounts receivable Inventory Current liabilities Accounts payable: Income taxes payable $ 91,150 31,500 66,500 Cash flows from operating activities 43,400 2,700 2020 $33,300 45,000 55,400 Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Changes in current operating assets and liabilities 32,200 3,500 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cashi $ 49,000 MOSS COMPANY Income Statement For Year Ended December 31, 2021 Sales Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income MOSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets Cash Accounts receivable. Inventory. Current liabilities Accounts payable Income taxes payable $91,150. 31,500 66,500 43,400 2,700 2020 $ 549,000 357,600 191,400 128,500 49,000 13,900 8,100. $ 5,800 $.33,300 45,000 55,400 32,200 3,500 Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to should be indicated by a minus sign.) Cash flows from operating activities Adjustments to reconcile net income to net cash provided by operating activities income statement items not affecting cash MUSS COMPANY Selected Balance Sheet Information 2021 At December 31 Current assets. Cash Accounts receivable Inventory Current liabilities Accounts payable: Income taxes payable $ 91,150 31,500 66,500 Cash flows from operating activities 43,400 2,700 2020 $33,300 45,000 55,400 Use the information above to calculate cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.) Changes in current operating assets and liabilities 32,200 3,500 Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cashi $ 49,000

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