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Cashless, Inc. Consolidated Income Statements At and for the years ended December 31 (all amounts in thousands) Sales Revenue Cost of Goods Sold 20X3 20X2
Cashless, Inc. Consolidated Income Statements At and for the years ended December 31 (all amounts in thousands) Sales Revenue Cost of Goods Sold 20X3 20X2 $132,000 $124,000 85,000 80,000 Selling Expenses 23,000 20,000 Depreciation and Amortization Expense 12,000 10,000 Current Assets (except Cash) 36,000 50,000 Current Liabilities 21,000 20,000 Calculate Microhard's Cash from Operating Activities on the Statement of Cash Flows for the year ended December 31, 20X3. Pita Pan, Inc. uses the indirect method to prepare its statement of cash flows. Presented below are selected items from its financial statements. 12/31/20X3 12/31/20X2 Accounts receivable $46,000 $38,000 Prepaid insurance $5,000 $3,000 Wages payable $16,000 $13,500 Interest payable $1,000 $4,800 Sales revenue $230,000 Cost of goods sold $165,000 Wages expense Insurance expense 98,000 $8,200 Interest expense $11,200 Calculate the amount related to prepaids that will be added to or subtracted from Net Income in preparing the Cash from Operating Activities using the indirect method. If subtracted from Net Income, enter as a negative amount
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