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MariettaO [177]
3 years ago
9

The owner of a bicycle repair shop forecasts revenues of $236,000 a year. Variable costs will be $69,000 and rental costs for th

e shop are $49,000 a year. Depreciation on the repair tools will be $29,000. Prepare an income statement for the shop based on these estimates. The tax rate is 20%. Calculate the operating cash flow by using the three methods given below. Dollars in minus dollars out adjusted accounting profits after tax operating cash flow
Business
1 answer:
Alexxx [7]3 years ago
3 0

Answer:

Explanation:

INCOME STATEMENT

Revenue         $236,000

Variable cost     $69,000

Rental Cost        $49.000  

Depreciation      $29,000

Pretax profit        $89,000

Taxes                   $17,800

Net incomes        $71,200

Net Income   71200

Depr. Expense  29000

 

Increase in AR     -236000

Increase in AP $  135800

Operating Cash Flow  0

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