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Castile Inc. had a beginning balance of $2,200 in its Accounts Receivable account. The ending balance of Accounts Receivable was $2,800. During the period,
Castile Inc. had a beginning balance of $2,200 in its Accounts Receivable account. The ending balance of Accounts Receivable was $2,800. During the period, Castile recognized $42,000 of revenue on account. Castile's Salaries Payable account has a beginning balance of $1,800 and an ending balance of $1,100. During the period, the company recognized $36,400 of accrued salary expense. Required a. Based on the information provided, determine the amount of net income. b. Based on the information provided, determine the amount of net cash flow from operating activities. a. Net income b. Net cash flow from operating activities
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