McCabe Company reported the following financial statements for 2019 and 2020: Compute the following investing cash flows:
Question:
McCabe Company reported the following financial statements for 2019 and 2020:
Compute the following investing cash flows:
a. Purchases of plant assets (all were for cash). There were no sales of plant assets.
b. Proceeds from the sale of investments. There were no purchases of investments.
Transcribed Image Text:
1234SOLO 9~345 5 6 7 8 10 بربربربربري Sales revenues Less: Cost of goods sold Gross profit Less operating expenses: Salaries and wages expense Insurance expense 11 Depreciation expense 12 Other operating expenses McCabe Company Income Statement For the Year Ended December 31, 2020 A 13 Total operating expenses 14 Operating income 15 Plus other income and less other expenses: 16 Interest expense $ B 370,000 14,000 71,000 127,000 6,100 $ $ C 4,810,000 2,890,000 1,920,000 582,000 1,338,000
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