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Melissa, Inc. reported the following income statement, prepared on the accrual basis: Sales Cost of goods sold Gross profit Operating expenses: $6,000 (4,700) $1,300 Depreciation
Melissa, Inc. reported the following income statement, prepared on the accrual basis: Sales Cost of goods sold Gross profit Operating expenses: $6,000 (4,700) $1,300 Depreciation expense Other operating expenses Income before taxes Income tax expense Net income Changes during the year in selected accounts: Accounts receivable $190 650 (840) $460 (210) $250 $100 decrease Inventories Accounts payable (on purchases) Salaries payable Prepaid expenses Required: For Melissa, Inc., compute the cash flow pertaining to: a. Cash collections from customers. b. Cash paid for operating expenses. c. Cash paid for suppliers. +9 200 decrease 150 increase 60 decrease 30 increase
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