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Calculate the Cash Flow from Operations amount for 2019 under the Indirect method . The correct answer is 1,194,190 . I want to know the
Calculate the Cash Flow from Operations amount for 2019 under the Indirect method. The correct answer is 1,194,190. I want to know the process of calculation. Thanks.
2019 2018 525,710 75,000 455,000 (25,000) 23,676 3,456,789 $ 185,000 1,654,321 (248,148) 85,484 13,333 462,280 65,167 10,000 727,850 6,412,077 $ 230,000 3,815,000 (2,301,500) 508,591 850,000 158,125 3,260,216 $ 9,672,293 $ 139,836 29,050 3,520 975,000 2,201,792 December 31, Assets Cash $ Marketable securities Accounts receivable Allowance for Bad Debt Interest Receivable Prepaid Advertising Prepaid Insurance Prepaid Rent Office supplies Inventory Current Assets $ Office furniture Equipment Accumulated depreciation Long-term notes receivable Land Patent Non-current Assets $ Total Assets $ Liabilities Accounts payable Wages payable Interest Payable Short-term Note Payable Deferred Revenue Dividends payable Bond interest payable Current Liabilities $ Long-term notes payable Bonds Payable Total Liabilities $ Stockholders' Equity Common Stock Additional Paid-in-Capital Treasury Stock Contributed capital Retained earnings Total Stockholder's Equity $ Total Liabilities and SE $ 5,000,000 (2,000,000) 285,000 1,450,000 4,735,000 6,936,792 977,638 27,500 844 450,000 35,000 155,000 534,135 1,313,600 19,000 2,872,716 $ 1,342,000 1,016,561 5,231,277 $ 640,000 1,250,000 1,890,000 1,000,000 1,824,406 1,070,000 2,818,406 (595,000) 500,000 647,610 4,441,016 $ 9,672,293 $ 500,000 1,722,386 5,046,792 6,936,792 2019 4,567,890 2,131,415 2,436,475 Year Ended December 31 Operating Revenues Sales, net $ Cost of goods sold Gross Profit $ Operating Expenses Wages expense $ Utility expense Insurance expense Rent Expense Fuel Expense Office supplies expense Advertising expense Bad debt expense Amortization Expense Depreciation expense Total expenses $ Operating Income (Loss) $ Other Items Interest income $ Interest expense Bond Interest Expense Loss on sale Gain on sale Unrealized holding gain (loss) Net Income $ 432,456 66,000 119,556 55,883 3,500 27,000 146,667 293,932 7,500 876,543 2,029,037 407,438 85,484 (68,688) (19,000) 550,000 24,500 979,735Step by Step Solution
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