Given the acquisition cost of product ALPHA is $20, the net realizable value for product ALPHA is $17, the normal profit for pro
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Answer:
a-
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a- 2)
Balance of accounts receivable at the end of 2018 = $2,400
Solution b:
Balance of accounts payable at the end of 2018 = $7,100
Solution c:
Gross margin = Sales - COGS = $21,400 - $14,300 = $7,100
Net Income = Gross margin - Operating expenses = $7,100 - $3,900 = $3,200
Solution d:
Cash flow from operating activities = Cash received from customer - Cash paid for accounts payable - Cash paid for operating expenses = $19,000 - $11,900 - $3,900 = $3,200
