moss company

Income Statement

For Year Ended December 31, 2021

$

03:49:17

Sales

Cost of goods sold

Gross profit

Operating expenses (excluding depreciation)

Depreciation expense

Income before taxes

Income taxes expense

Net income

540,000

341,600

198,400

124,500

41,000

32,900

11,400

$ 21,500

Book

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MOSS COMPANY Selected Balance Sheet Information At December 31 2021 2020
Current assets Cash $ 87, 150 $ 29,300
Accounts receivable 27,500	37,000
Inventory 62, 500	54,600
Current liabilities
Accounts payable 35,400	28,200
Income taxes payable 2,300	2,700

Use the information above to calculate cash flows from operating activities using the indirect method.

Note: Amounts to be deducted should be indicated by a minus sign.