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Joe corporation: Income Statement: Year 2 Net income $80,000 Depreciation expense 70,000 Amortization of patent 30,000 Gain on Sale of equipment 110,000 Balance Sheet: Dec
Joe corporation: Income Statement: Year 2 Net income $80,000 Depreciation expense 70,000 Amortization of patent 30,000 Gain on Sale of equipment 110,000 Balance Sheet: Dec 31, Year 2. De.31 Y1 Account recivable $720,000 $630,000 Inventory 860,000 800,000 Prepaid expenses 30,000 35,000 Accounts payable 660,000 630,000 Accured expenses payable. 430,000 440,000 Question: Complete the partial stament of cash flows for the year eneded Decemeber 31, Year 2, showing the computation of net cash flows from OPERATING ACTIVITIES BY THE INDERECT METHOD
Income Statement: Year 2
Net income $80,000
Depreciation expense 70,000
Amortization of patent 30,000
Gain on Sale of equipment 110,000
Balance Sheet: Dec 31, Year 2. De.31 Y1
Account recivable $720,000 $630,000
Inventory 860,000 800,000
Prepaid expenses 30,000 35,000
Accounts payable 660,000 630,000
Accured expenses payable. 430,000 440,000
Question:
Complete the partial stament of cash flows for the year eneded Decemeber 31, Year 2, showing the computation of net cash flows from OPERATING ACTIVITIES BY THE INDERECT METHOD
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