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I have no idea what I am missing. Thank you for your help in advance! 2016 December 31, 2017 and 2016 2017 Current assets Cash
I have no idea what I am missing. Thank you for your help in advance!
2016 December 31, 2017 and 2016 2017 Current assets Cash $84,650 Accounts receivable 25,000 Inventory 60,000 Current liabilities Accounts payable 30,400 Income taxes payable 2,050 $26,800 32,000 54,100 25,700 2,200 MOSS COMPANY Income Statement For Year Ended December 31, 2017 Sales $ 515,000 Cost of goods sold 331,600 Gross profit 183,400 Operating expenses Depreciation expense $ 36,000 Other expenses 121,500 157,500 Income before taxes 25,900 Income taxes expense 7,700 Net income $ 18, 200 Use the information above to calculate this company's cash flows from operating activities using the Indirect method. (Amounts to be deducted should be indicated by a minus sign.) Answer is not complete. $ 18,200 Cash flows from operating activities: Net income Adjustments to reconcile net income to operating cash flow Depreciation $ Accounts receivable decrease Inventory increase Accounts payable increase Income taxes payable decrease olololo 36,000 7,000 (5,900) 4,700 (150) 41,650 59,850 $Step by Step Solution
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