Question: Problem 11-4B Prepare a statement of cash flows-indirect method (LO11-2, 11-3, 11-4, 11-5) The income statement balance sheets, and additional information for Virtual Gaming Systems
Problem 11-4B Prepare a statement of cash flows-indirect method (LO11-2, 11-3, 11-4, 11-5) The income statement balance sheets, and additional information for Virtual Gaming Systems are provided VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $2,400,000 Gain on sale of land 6,00 Total revenues 2.466,000 Expenses Cost of goods sold $1,500,000 Operating expenses 601,000 Depreciation expense 19,000 Interest expense 20,000 Income tax expense 66.000 Total expenses 2,286,000 Net income $ 180,000 Problem 11-4B Prepare a statement of cash flows-indirect method (LO11-2, 11-3, 11-4, 11-5) The income statement balance sheets, and additional information for Virtual Gaming Systems are provided VIRTUAL GAMING SYSTEMS Income Statement For the year ended December 31, 2021 Net sales $2,400,000 Gain on sale of land 6,00 Total revenues 2.466,000 Expenses Cost of goods sold $1,500,000 Operating expenses 601,000 Depreciation expense 19,000 Interest expense 20,000 Income tax expense 66.000 Total expenses 2,286,000 Net income $ 180,000
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