Financial statements for The Style Touch are presented here.

Instructions Prepare a statement of cash flows for the year 19x8.

Transcribed Image Text:

Revenue from Sales: Net Sales Cost of Goods Sold: The Style Touch Income Statement For Year Ended December 31, 19x8 Merchandise Inventory, January 1, 19x8 Net Purchases Goods Available for Sale Less Merchandise Inventory, December 31, 19x8 Cost of Goods Sold Gross Profit Salary Expense Operating Expenses: 1336 70 00 5452 8000 $ 678950 00 $ 742 600 00 Rent Expense Depreciation Expense, Equipment Supplies Expense 137750 00 $ 109880 00 2400000 2960000 54120000 S 201 400 00 Insurance Expense Total Operating Expenses Net Income 275000 120000 1674 30 00 339 70 00