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i need help with this question.show work please n addition, you learn that there were no anticipated bad debts on receivables, and the rent payment
i need help with this question.show work please
n addition, you learn that there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3 . Required: 1. Calculate the net operating cash flow for years 2 and 3 . 2. Prepare an income statement for each year according to the accrual accounting method. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. Cash flows: Cash collected from clients Cash disbursements: Salaries paid to employees for services rendered during the year Advertising Utilities Payment of rent \begin{tabular}{c|c} Year 2 & Year 3 \\ \hline$260,000 & $400,000 \end{tabular} Balance Sheet information Accounts receivable - End of year Accounts payable - End of year Payables - Advertising Payables - Utilities Accounts payable total Additional information: There were no anticipated bad debts on receivables. The rent payment was for a two-year period, year 2 and year 3 . 2 years Required: \begin{tabular}{|r|r|} \hline 180,000 & 210,000 \\ \hline 15,000 & 22,000 \\ \hline 8,000 & 6,000 \\ \hline 80,000 & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Year 1 & Year 2 & Year 3 \\ \hline$20,000 & $35,000 & $18,000 \\ \hline \hline \end{tabular} 2. Prepare an income statement for each year according to the accrual accounting model. ABC Company Income Statements - Accrual basisStep by Step Solution
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