Question
F1 Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The company has provided the following information pertaining to
F1 Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The company has provided the following information pertaining to its recent year of operation: Cash flow from operating activities, $136,000 Accounts payable increased $11,000 Prepaid assets decreased $8,000 Depreciation expense was $12.000 Accounts receivable increased $23.000 Loss on sale of a depreciable asset was $6,000 Wages payable decreased $9,000 Unearned revenue decreased $19,000 Patent amortization expense was $3,000 How much was F1's net income?
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
4th edition
978-0133428469, 013342846X, 133428370, 978-0133428377
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