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Given below are a firm's: (1) cash flows from operating activities section of its cash flow statement for a year, and (2) income statement for
Given below are a firm's: (1) cash flows from operating activities section of its cash flow statement for a year, and (2) income statement for the year. Partial Cash Flow Statement All inventory purchases and other expenses were incurred on account. Indicate whether the following statements are "True" or "False" by circling your answers below (each answer is worth 2 points): A) TF Cash collected from customers during the year amounted to $324,200. B) T F Cash paid to suppliers of goods and services during the year amounted to $215,100. C) TF Cash paid to employees for wages during the year amounted to $61,100. D) TF Income tax payments during the year amounted to $11,200. E) TF Depreciation during the year led to an inflow of cash of $12,000
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