Presented below are selected balance sheet information and the income statement for Burch Company. Selected Balance Sheet
Question:
Presented below are selected balance sheet information and the income statement for Burch Company.
Selected Balance Sheet Information
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Income Statement
For the year ended December 31, 2019
Sales ............................................... $ 250,000
Cost of goods sold .............................. (160,000)
Depreciation expense ............................. (15,000)
Other expenses .................................... (35,000)
Income tax expense ............................... (12,000)
Net income ......................................... $ 28,000
Required:
Compute the net cash flows from operating activities using the direct method?
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Cash flows from operating activities Cash collected from customers 247500 Cash pa...View the full answer
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