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fast please The following comparative statement of financial position for Dubai Co. is given for the financial periode 2019 2020 2020 2019 PPE $130,000 $395.000
fast please
The following comparative statement of financial position for Dubai Co. is given for the financial periode 2019 2020 2020 2019 PPE $130,000 $395.000 Accumulated depreciation of PPE (160,000) (135 000) Copyrights 50,000 58000 Receivables 16,000 10,000 Inventory 60.000 70,000 Prepaid expenses 03000 49,000 Cash 172.000 71.000 5661,000 $518,000 Capital preferred shares Premium on preferred shares Common stock Retained earnings Bond payable Accounts payable Accrued liabilities 23,000 160,000 56,000 34,000 $42,000 150,000 66,000 40,000 87,000 60,000 216.000 $581.000 45,000 200.000 $518,000 The income statement for 2020 is as follows: Net sales $760,000 Cost of goods sold 473.000 Gross profit 289,000 Operating expenses 210.000 Net income $79.000 Required: Compute the following using the Direct Method (Show your calculations). 1. How much is the cash received from customers? 2 How much is the cash paid to suppliers? 3. How much is the operating expenses paid Step by Step Solution
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