The Income statement of Tanucci Clothing Store along with some additional information is given in the problem.
Question:
In order to calculate the Cash Flow from Operating activities, calculate the cash receipt from sales, cash payments for purchase, cash payments for operating activities and the cash payments for the Income Taxes.
Before preparing the Cash flow statement for operating activities, follow the following steps:
• Calculate the cash receipt from sales during 2014.
• Calculate the cash payments for purchases during 2014.
• Calculate the cash payments for operating expenses.
• Calculate the cash payments for Income taxes.
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Step by Step Answer:
Step 1 Calculate the cash receipt from sales during 2014 Cash receipts from sales Sales Increase in account receivables 4900000 288000 4612000 Step 2 ...View the full answer
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Related Book For 
Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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