Question: please help me solve it step by step Question 3 (30 marks) a. The income statement and a partial balance sheet for Mango Company are
Question 3 (30 marks) a. The income statement and a partial balance sheet for Mango Company are presented below. Mango Company Income statement For the year Ended December 31, 2020 Sales $260,000 105,600 Cost of goods sold Gross Profit $154,400 Operating expenses: Salaries $24,000 16,000 Depreciation expense Miscellaneous Net Income 10,600 50,600 $103,800 2016 Cash 224,000$ 8,800 Account receivable Inventories 16,800 10,800 Prepaid expenses Accounts Payable 8,800 Salaries Payable 5,320 Required: Prepare the operating activities section of the statement of cash flows using indirect method. (15 Marks) QUECIP Mango Company
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