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Can you help? The income statement and the cash flows from the operating activities section of the statement of cash ows are provided below for
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The income statement and the cash flows from the operating activities section of the statement of cash ows are provided below for Syntric Company. The merchandise inventory account balance neither increased nor decreased during the reporting period. Syntric had no liability for insurance or deferred income taxes at anytime during the period. SYNTRIC (:um Income Statement For the Year Ended December 31, 2621 [$ in thousands} Sales 5 285.1 Cost of goods sold 167.8g lGross margin 117.3 Salaries expense $30.2 Insurance expense 18.9 Depreciation expense 12.5 Depletion expense 5.5 Interest expense 12-5 (79.5) Gains and losses: Gain on sale of equipment 18.5 Loss on sale of land (7.4! Income before tax 48.8 Income tax expense (24.4) Net income $ 24-4 Cash Flows from Operating Activities: Cash received from customers 5 238.6 Cash paid to suppliers (155.6) Cash paid to employees (25.8) Cash paid for interest (19.5) Cash paid for insurance (14.4) Cash paid for income tax 12.53 Net cash flows from operating activities 5 29-5Step by Step Solution
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