The income statement of TorMax Technology Inc. for the year ended December 31, 2015, is as follows:

Question:

Sales Cost of goods sold Gross profit... Operating expenses: Depreciation expense Other operating expenses.. Total opera

Instructions
Using the information from Problem 16-2B and the additional information provided, prepare a statement of cash flows using the direct method of presenting cash flows from operating activities.

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Accounting Volume 2

ISBN: 978-0176509743

2nd Canadian edition

Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren

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Question Posted: Dec 15, 2017 08:38 AM

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The income statement of TorMax Technology Inc. for the year ended December 31, 2015, is as follows:

Question:

Sales Cost of goods sold Gross profit... Operating expenses: Depreciation expense Other operating expenses.. Total operating expenses. Income before income taxes $1,350,000 540,000 31.550 245,379 276,929 263.071 Income taxes expense Net income . 78,921 $ 184.150

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