Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Im not sure how to do this The income statement of Tamache Corporation is shown below: TAMACHE CORPORATION Statement of Income Year Ended December 31,

image text in transcribed
image text in transcribed Im not sure how to do this
The income statement of Tamache Corporation is shown below: TAMACHE CORPORATION Statement of Income Year Ended December 31, 2020 Sales revenue $7.544,000 Cost of goods sold 4,600,000 Gross profit 2,944,000 Operating expenses $1,536,400 Depreciation expense 73,600 1,610.000 Profit before income tax $1,334,000 Income tax expense 466.900 Net income $867.100 Additional information: 1. 21 3. 4. . Accounts receivable decreased $276.000 during the year. Prepaid expenses increased $184.000 during the year. Inventory decreased $368,000 during the year. Accounts payable decreased $414.000 during the year. Wages payable decreased $138.000 during the year. Operating expenses included wages of $1,012.000. 6 -79.5 (a) Prepare the operating activities section of the cash flow statement for the year ended December 31, 2020 for Tamache Corporation, using the indirect method. (Show amounts that decrease cash flow with either a-signeg.-15,000 or in parenthesises (15,0001) TAMACHE CORPORATION Statement of Cash Flows (Partial) Year Ended December 31, 2020 Adjustments to reconcile profitto >> S

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

What are the purposes of collection messages? (Objective 5)

Answered: 1 week ago