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I'm not sure what I'm doing wrong, but I can't seem to figure out the right amounts here. Problem 17-04A (Video) Your answer is partially
I'm not sure what I'm doing wrong, but I can't seem to figure out the right amounts here.
Problem 17-04A (Video) Your answer is partially correct. Try again. The income statement of Whitlock Company is presented here. $7,447,800 WHITLOCK COMPANY Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory $1,982,100 Purchases 4,301,500 Goods available for sale 6,283,600 Ending inventory 1,449,400 Total cost of goods sold Gross profit Operating expenses Net income 4,834,200 2,613,600 1,126,000 $1,487,600 Additional information: 1. Accounts receivable increased $197,100 during the year, and inventory decreased $532,700. 2. Prepaid expenses increased $172,100 during the year. 3. Accounts payable to suppliers of merchandise decreased $342,100 during the year. 4. Accrued expenses payable decreased $107,000 during the year. 5. Operating expenses include depreciation expense of $91,400. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) WHITLOCK COMPANY Partial Statement of Cash Flows For the Year Ended November 30, 2020 Cash Flows from Operating Activities Cash Receipts from Customers Less cash payments: For Operating Expenses To Suppliers Il I Net Cash Provided by Operating Activities Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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