Question: please complete the chart, thumbs up guarenteed. Using the following income statement and additional year-end information $2,274,000 1,114,260 1,159,740 SONAD COMPANY Income Statement For Year
Using the following income statement and additional year-end information $2,274,000 1,114,260 1,159,740 SONAD COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense $311,538 Depreciation expense 54,576 Rent expense 61,398 Amortization expenses-Patents 6,822 Utilities expense 25,014 Gain on sale of equipment Net income 459,348 700,392 9,096 $ 709,488 Accounts receivable Inventory $23,150 increase 24,675 increase Accounts payable Salaries payable $10,825 decrease 1,750 decrease Prepare the operating activities section of the statement of cash flows using the direct method. (Amc indicated with a minus sign.) Statement of Cash Flows (Partial) Cash flows from operating activities
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
