tab Blackbo... esc caps lock Chapter 16 Practice Exercises 1 0.25 points eBook Hint Print References M Sign In ... Mc Graw Hill 1 Sales Cost of goods sold Gross profit 1 OneLogin The following income statement and additional year-end information is provided. Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense Gain on sale of equipment Net income Accounts receivable Inventory SONAD COMPANY Income Statement For Year Ended December 31 A Cash flows from operating activities Receipts from customers Payments for rent Payments for salaries Payments for inventory Payments for utilities @2 Statement of Cash Flows (Partial) Rent expense Utilities expense Rent expense Net cash provided by operating activities W 0 M Inbox (1... S Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign. #3 $ 35,800 increase Accounts payable 20,600 increase Salaries payable. $ 234,133 41,016 46,143 $ 5,127 18,799 E 5 5 5 0 0 0 15 SA 4 D $ 1,709,000 837,410 871,590 Bb Courses 345,218 526,372 6,836 $ 533,208 > R $ 14,325 decrease 1,300 decrease % 45 F M Questio... Prev ezto.mheducation.com T 6 Saved G 1 of 4 M Reset p... The Y Score answer > 0 7 H U C Sign This 8

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sales in inventory, and ( ) days' sales uncollected. Note: Do not round intermediate calculations. Ib. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below. For both companies compute the days' sales in inventory. sales in inventory, and ( days' sales uncollected. Note: Do not round intermediate calculations. lb. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below. For both companies compute the accounts (including notes) receivable turnover. sales in inventory, and ( h ) days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below. For both companies compute the acid-test ratio. sales in inventory, and ( ) days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below. For both companies compute the current ratio. sales in inventory, and ( ( ) days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below. For both companies compute the inventory turnover. sales in inventory, and ( ) days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below. For both companies compute the days' sales uncollected. [The following information applies to the questions displayed below] Summary information from the financial statements of two companies competing in the same industry follows. Required: 1a. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accounts receivable turnover, (d) inventory turnover, (e) days" sales in inventory, and ( days' sales uncollected. Note: Do not round intermediate calculations. 1b. Identify the company you consider to be the better short-term credit risk. Complete this question by entering your answers in the tabs below