Norman NVs income statement for the year ended December 31, 2022, contained the following condensed information. Normans
Question:
Norman NV’s income statement for the year ended December 31, 2022, contained the following condensed information.
Norman’s statement of financial position contained the following comparative data at December 31.
(Accounts payable pertains to operating expenses.)
Instructions
Prepare the operating activities section of the statement of cash flows using the direct method.
Transcribed Image Text:
Service revenue €840,000 Operating expenses (excluding depreciation) €624,000 Depreciation expense Loss on sale of equipment 60,000 26,000 710,000 Income before income taxes 130,000 Income tax expense 40,000 Net income € 90,000
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Related Book For
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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