Question
MOSS COMPANY Selected Balance Sheet Information December 31, 2017 and 201620172016Current assetsCash$92,650$34,800Accounts receivable33,00048,000Inventory68,00055,700Current liabilitiesAccounts payable46,40033,700Income taxes payable2,8503,800 MOSS COMPANY Income Statement For Year Ended December
MOSS COMPANY
Selected Balance Sheet Information
December 31, 2017 and 201620172016Current assetsCash$92,650$34,800Accounts receivable33,00048,000Inventory68,00055,700Current liabilitiesAccounts payable46,40033,700Income taxes payable2,8503,800
MOSS COMPANY
Income Statement
For Year Ended December 31, 2017Sales$564,000Cost of goods sold363,600Gross profit200,400Operating expensesDepreciation expense$52,000Other expenses130,000182,000Income before taxes18,400Income taxes expense10,300Net income$8,100
Use the information above to calculate this company's cash flows from operating activities using the indirect method.(Amounts to be deducted should be indicated by a minus sign.)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
