Question
Elan Corporatio acountants have asmbled the flwling data for the year ended June 30, 2020: Net Income $????? Cost of goods sold $115,000 Payment of
Elan Corporatio acountants have asmbled the flwling data for the year ended June 30, 2020:
Net Income $?????
Cost of goods sold $115,000
Payment of dividends 6,300
Other operating expenses 41000
Proceeds from the issuance of common stock 20,000
Purchase of equipment with cash 36000
Sales revenue 223,000
Increase in current liabilities 6,000
Increase in current assets other than cash 37 ,000
Payments of note payable 31,000
Purchase of treasury stock 8,000
Proceeds from sale of land 34,000
Depreciation expense 12,000
Ending Cash, 12/31/2020 10,000
Beginning Cash, 1/1/2020 1,700
prepare cash flow and how to calculate net income?
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