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For each of the following financial statement line items, calculate the year over year variance. Make sure to put decreases as a negative # and
For each of the following financial statement line items, calculate the year over year variance. Make sure to put decreases as a negative # and increases as a positive #. Then determine whether you need to add or deduct the amount from Net Income for the indirect method on the Statement of Cash Flows. Financial Statement Line Item Year 1 Balance Year 2 Balance YoY Variance Add/Deduct Accounts Receivable $10,000 $15,000 Question Blank 1 of 10 .50 Question Blank 2 of 10 add Accounts Payable $12,000 $20,000 Question Blank 3 of 10 type your answer... Question Blank 4 of 10 type your answer... Inventory $8,000 $5,000 Question Blank 5 of 10 type your answer... Question Blank 6 of 10 type your answer... Prepaid Expenses $9,000 $7,000 Question Blank 7 of 10
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