Using the data from Exercise 2 plus the additional information in Figure 21.14, compute net cash flows
Question:
In Exercise 2, From the following, calculate the net cash flow from operating activities using the indirect method:
For the year ended 2012:
Net Income .......... $2,400
Depreciation Expense ...... 620
Transcribed Image Text:
822000 Sales Cost of Goods Sold Gross Profit 592000 Expenses: 62000 220oo0 Depreciation Expense nsurance Expense Miscellaneous Expense 30000 Total Expenses 352 000 Net Income Merchandise Inventory Accounts Receivable Prepaid Insurance Accounts Payable Salaries Payable 2011 $2,700 600 675 1,000 595 2012 $3,800 860 330 810 805
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