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gtnhenbr [62]
3 years ago
15

The income statement and selected balance sheet information for Direct Products Company for the year ended December 31 are prese

nted below. Income Statement Sales Revenue $ 39,600 Expenses: Cost of Goods Sold 16,500 Depreciation Expense 1,100 Salaries and Wages Expense 8,100 Rent Expense 3,600 Insurance Expense 1,450 Interest Expense 1,350 Utilities Expense 950 Net Income $ 6,550 Selected Balance Sheet Accounts Ending Balances Beginning Balances Accounts Receivable $ 580 $ 620 Inventory 800 675 Accounts Payable 440 500 Prepaid Rent 33 24 Prepaid Insurance 29 36 Salaries and Wages Payable 62 41 Utilities Payable 28 19
Required:

Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.)
Business
1 answer:
tamaranim1 [39]3 years ago
5 0

Answer:

The answer is attached;

Explanation:

Download xlsx
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