InnovaTech Ltd has provided the following financial data for the year ended 31 December 2021: Net Income:
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Question:
InnovaTech Ltd has provided the following financial data for the year ended 31 December 2021:
- Net Income: £160,000
- Depreciation Expense: £35,000
- Increase in Accounts Receivable: £20,000
- Decrease in Accounts Payable: £7,000
- Increase in Inventory: £10,000
- Purchase of Equipment: £30,000
- Issuance of Common Stock: £70,000
Requirements:
- Prepare the operating activities section of the cash flow statement using the indirect method.
- Calculate the net cash provided by (used in) operating activities.
- Determine the net increase (decrease) in cash for the period.
Posted Date: