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Need help please. Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following incomestatement: Felix Company Income
Need help please.
Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following incomestatement:Felix Company Income Statement Year Ended December31, 2017 |
Sales Revenue | $250,000 | |
Interest Revenue | 2,200 | |
Gain on Sale of Plant Assets | 5,100 | |
Total Revenues and Gains | $257,300 | |
Cost of Goods Sold | 124,000 | |
Salary Expense | 41,000 | |
Depreciation Expense | 14,000 | |
Other Operating Expenses | 23,000 | |
Interest Expense | 1,900 | |
Income Tax Expense | 5,200 | |
Total Expenses | 209,100 | |
Net Income(Loss) | $48,200 |
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