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inn [45]
3 years ago
7

The following data are taken from the income statement and balance sheet of Freeman Machinery, Inc. Dec. 31, 2018 Jan. 1, 2018 I

ncome statement: Net Income $ 385,000 Depreciation Expense 135,000 Amortization of Intangible Assets 40,000 Gain on Sale of Plant Assets 90,000 Loss on Sale of Investments 35,000 Balance sheet: Accounts Receivable $ 335,000 $ 380,000 Inventory 503,000 575,000 Prepaid Expenses 22,000 13,000 Accounts Payable (to merchandise suppliers) 379,000 410,000 Accrued Expenses Payable 180,000 155,000 Using this information, prepare a partial statement of cash flows for the year ended December 31, 2018, showing the computation of net cash flows from operating activities by the indirect method.
Business
1 answer:
Norma-Jean [14]3 years ago
5 0

Answer:

The answer is attached

Explanation:

Download xlsx
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See attached file

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