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IGNORE PART A PLEASE. ONLY USE DIRECT METHOD. THANK YOU a) Prepare the statement of cash flows for Benji Company using the indirect method. b)
IGNORE PART A PLEASE. ONLY USE DIRECT METHOD. THANK YOU
a) Prepare the statement of cash flows for Benji Company using the indirect method. b) Calculate the cash flows from operations using the direct method. Benji Company Income Statement For the Year Ended December 31, 2015 $8,200 $ 400 6,800 Revenues Depreciation expense Other operating expenses Income before income taxes Income tax expense Net income 7,200 $1,000 340 $ 660 Benji Company Balance Sheet December 31, 2015 and 2014 2014 2014 $ 120 580 2015 Assets: Cash $ 380 AR 640 Inventories 950 Plant & Equip. 2,870 Less: Acc. Depr. (1,120) Total Assets $3,720 840 2015 Liab. & SE: A/P $ 770 Inc. Taxes/Pay. 90 LT debt 1,080 Common Stock 1,000 Retained Earnings 780 Total Liab. & SE $3,720 $ 600 160 1,630 1,000 __420 $3,810 2,990 (720) $3,810Step by Step Solution
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