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Consider the following information from the financial statements of Jupiter Inc. Income Statement for the Year Service revenue 190000 Depreciation expense (18000) Wage expense (9500)
Consider the following information from the financial statements of Jupiter Inc. Income Statement for the Year Service revenue 190000 Depreciation expense (18000) Wage expense (9500) Net income before taxes 162500 Income tax expense (65000) Net income 97500 Data from Beginning and end-of-year balance sheets Accounts receivable 11000 Decrease Wages payable 90 Decrease A. Using the information above, complete the following computation of Operating cash flows under the DIRECT method. Enter a hyphen as a minus sign for any number that is a subtraction to get to the final number (operating cash flows). Cash collected for services Cash paid for wages and taxes Operating cash flows
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