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Hi I need help answer the following question thank you Check Portions of the financial statements for Clear Transmissions Company are provided below CLEAR TRANSMISSIONS
Hi I need help answer the following question thank you
Check Portions of the financial statements for Clear Transmissions Company are provided below CLEAR TRANSMISSIONS COMPANY Incoee Statement For the Year Ended December 31, 2021 (in thousands) Sales $2,220 Cost of goods sold 88 Gross margin 1. Salaries expense $400 Depreciation experise 255 Amortization expense 40 Interest expense 10 Loss on sale of cash equivalents 21 816 Incone before tases 10 Income tax expense 250 Net Income $ 258 CLEAR TRANSMISSIONS COMPANY Selected Accounts from comparative Balance Sheets December 11, 2021 and 2020 is in thousands Year Cash 2821 2020 Change 5138 3310 $ Accounts receivable 263 277 (16) They G 480 (35) Accounts payable 203 194 Salates payable 107 116 Teterest payable 57 50 Teco tak payable 40 Required: Prepare the cash flows from operating activities section of the statement of cash flows for Clear Transmissions Company using the direct method (Enter your answers in thousands e. 5.000 should be entered as 5). Amounts to be deducted should be indicated with a minus sign) Cash Flows from Operating AS Cash decrease from sale of cash agusan Cash paid for income 258 Net cash fowstrom operating 5 268 Step by Step Solution
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