Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Florida Auto Parts Company uses the indirect method to prepare the statement of cash flows. Refer to the folowing income statement View the income
Florida Auto Parts Company uses the indirect method to prepare the statement of cash flows. Refer to the folowing income statement View the income statement Additional information provided by the company includes the following Current assets other than cash increase by $32.000 Current labisties decrease try $3.800. Prepare the operating activities section of the statement of cash flows. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a field is not used in the statement, leave the felt empty, do not select a label or enter a zero) Florida Plus, Inc. Statement of Cash Flows Year Ended December 30, 2024 Cash Flows from Operating Activities Net Income Adustments to Reconcile Net Income to Net Cash Provided by (Used for) Operating Activities Net Cash Provided by (Used for Operating Activites Income Statement Florida Auto Parts Company Income Statement Year Ended December 31, 2024 Sales Revenu $ 300,000 Interest Revenue 1,450 Gain on Sale of Phan Assets 7.000 Total Revenue and Gains $ 208 450 Cost of Goods Sold 160.000 Salary Expense 60.700 Depreciation Expense 10.700 Other Operating Expenses 35,100 Interest Expense 1.200 Income Tax Expense 10,000 Total Expenses 301,300 37,150 Net income() Print Done x Next
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started