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Grant Trading Corporation Income Statement For the Year Ended December 31, 2019 Sales Cost of Service sold Gross margin Operating expenses $7 200 Depreciation expense
Grant Trading Corporation Income Statement For the Year Ended December 31, 2019 Sales Cost of Service sold Gross margin Operating expenses $7 200 Depreciation expense 1.500 Gain from sale of Vehicles 5.000 Income before income taxes Income taxes expense Net income 536.000 13.000 $23,000 3.700 $19.300 600 $18.700 The following other financial information is provided 1 Accounts Receivable (net) decreased by $1,500 during the year 2. Office Supplies Inventory increased by 5900 and 3. Accounts Payable decreased by $1.200 during the year 4. VAT Taxos Payable increased by 300 during the year 5. Purchase of long-term assets during the year amounted to 521.000 6 Cash from Issuance of Long-Term Debt $20,000 7. Issuance of Stock for Cash $16.000 8. Issuance of Stock for Long Term Assets $11 000 9. Salo of company vehicles that cost $39.000 with accumulated depreciation of 511,000 at a gain of 55,000 Prepare Grant Trading Corporation Net.Cashflow Report (Statement of Cashflow) for the year
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