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Just need help finding the number for the purchasing of equipment. Thanks. Statement of Cash Flows (Indirect Method) The Sweet Company's income statement and comparative
Just need help finding the number for the purchasing of equipment. Thanks.
Statement of Cash Flows (Indirect Method) The Sweet Company's income statement and comparative balance sheets as of December 31 of 2013 and 2012 are presented below: SWEET COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $1,229,800 Cost of Goods Sold $659,100 Wages Expense 263,900 78,000 Depreciation Expense Insurance Expense 16,900 Interest Expense 15,600 74,100 Income Tax Expense Gain on Sale of Equipment (20,800) 1,086,800 $143,000 Net Income SWEET COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets Cash $29,900 $40,300 Accounts Receivable 88,400 55,900 163,800 Inventory 230,100 14,300 Prepaid Insurance 11,700 Plant Assets 1,153,100 1,001,000 (245,700) (227,500) Accumulated DepreciationStep by Step Solution
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