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kindly answer All parts of the question as soon as possible a. Flee's accounts receivable started with a beginning balance of $11 million and ended
kindly answer All parts of the question as soon as possible
a. Flee's accounts receivable started with a beginning balance of $11 million and ended the year with a balance of $14 million. What is the amount of cash received from customers during the reporting period if its sales are $447 million? b. Flex's inventory started with a beginning balance of $10 million and ended with an ending balance of $2 million and its accounts payable to suppliers started with a beginning balance of $10 million and ended with an ending balance of $16 million during the same period. What is the amount of cash paid to suppliers of merchandise during the reporting period if its cost of goods sold is $81 million? c. Flex reports operating expenses of $255 million. Operating expenses include both rent expense and salaries expense. Prepaid rent decreases during the year by $10 million and salaries payable increases by $25 million. What is the cash paid for operating expenses during the year? (i.e., Change in an account = Ending Balance - Beginning Balance) d. Flex reports income tax payments of $145 million. Income tax payable at the beginning and end of the year are $20 million and $25 million, respectively. What is the tax expense during the year? All the revenues and expenses were listed above. The Flex company declared a dividend of $1 million. e. What is their Net Income? f. What are the concepts you use to build an income statementStep by Step Solution
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