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Melissa, Inc reported the following income statement, prepared on the accrual basis: Sales: $6,000 COGS: (4700) Gross Profit = 1300 OP Exp: 190 Other Op
Melissa, Inc reported the following income statement, prepared on the accrual basis:
Sales: $6,000
COGS: (4700)
Gross Profit = 1300
OP Exp: 190
Other Op Exp: 650 = (840)
Income before taxes: 460
Income Tax Exp: (210)
Net Income = $250
Changes during the year in selected accounts:
Accounts Receivable: $100 decrease
Inventories: 200 decrease
Accounts Payable (on purchases): 150 increase
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
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