Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the following income statement and balance sheet, find the net cash provided by operating activities? Income statement for 2020: $23.598 11.456 12.142 $4123 1.052

image text in transcribed

image text in transcribed

Given the following income statement and balance sheet, find the net cash provided by operating activities? Income statement for 2020: $23.598 11.456 12.142 $4123 1.052 3.527 Revenue Cost of goods sold Gross profit Salary and wage expense Depreciation expense Other operating expenses Total operating expenses Operating profit Other revenues (expensesk Gain on sale of equipment Interest expense Income before tax Income tax expense Net Income 8,752 3.390 205 (246) (41) 3.349 1.139 $2210 | Balance Sheet: 2020 2019 $1.011 $1.163 957 1,012 3.984 155 3.277 178 6,162 510 3.650 8,798 B.H3) Cash Accounts receivable Inventory Prepaid expenses Total current assets Land Buildings Equipment Lese accumulated depreciation Total long-term assets Total assets Accounts payable Salary and wage payable Interest payable Income tax payable Other accrued liabilities Total content liabilities Long term debt 5.575 510 3,680 8,555 (2891) 9,854 $15.429 9,545 $15.700 53.58 $1.325 S 75 62 75 55 L103 1.126 4.916 4.628 3,575 3,075 205 (246) Gain on sale of equipment Interest expense Income before tax Income tax expense Net Income (41) 3,349 1.139 $2,210 Balance Sheet: 2020 2019 $1,011 $1.163 1,012 3,984 155 957 3,277 178 6,162 5,575 Cash Accounts receivable Inventory Prepaid expenses Total current assets Land Buildings Equipment Less: accumulated depreciation Total long-term assets Total assets 510 510 3.680 3,680 8,798 8,555 (3,443) 9,545 $15.707 (2.891) 9,854 S15429 $3,588 $3,325 85 25 62 74 55 50 1.126 1.10 Accounts payable Salary and wage payable Interest payable Income tax payable Other accrued liabilities Total current liabilities Long-term debt Common stock Retained earnings Total liabilities and equity 4,916 4.628 3,575 3,075 3,750 3,966 4,350 $15.707 S159429

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing And Assurance Services Plus Pearson MyLab Accounting With Pearson EText

Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Chris E. Hogan

17th Global Edition

1292312106, 978-1292312101

More Books

Students also viewed these Accounting questions