Question: Using the financial statements MingMing ( Zhao ) Inc compute the cash flow from assets for 2 0 2 4 ? MingMing ( Zhao )

Using the financial statements MingMing (Zhao) Inc compute the cash flow from assets for 2024? MingMing (Zhao) Inc. Balance Sheet 20232024 Cash $8,000 $12,200 Accounts receivable 12,00013,000 Inventories 9,00010,000 Land 20,00020,000 Other fixed assets 16,00019,800 Accumulated depreciation (4,000)(5,000) Total assets $61,000 $70,000 Accounts payable $11,000 $12,000 Long-term Bonds 24,00024,000 Common stock 14,00014,000 Retained earnings 12,00020,000 Liabilities & Equity $61,000 $70,000 MingMing (Zhao) Inc. Income Statement For the year ended December 31,2024 Sales $196,000 Cost of goods sold (140,000) Gross profit $56,000 Operating expenses (26,000) Depreciation (2,000) EBIT 28,000 Interest expense (2,000) EBT 26,000 Taxes (9,000) Net Income $17,000

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