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Note: General and Administrative expenses include depreciation expense. Format your response as ### or -###. Do not use dollar signs. Compute the following: Cash received
Note: General and Administrative expenses include depreciation expense.
Format your response as ### or -###. Do not use dollar signs.
Compute the following:
Cash received from customers:
Cash paid to suppliers of goods:
Cash paid to employees:
Cash paid for general and administrative expenses:
Cash paid for income taxes:
Company Income Statement For the Year Ended December 31, 2021 Sales $ 425 Cost of goods sold 275 Gross margin 150 Salaries expense $ 40 General and administrative Loss on sale of land Income before tax Income tax expense 23 Net income $ 51 29 $ 51 Reconciliation of Net Income To Net Cash Flows from Operating Activities Net income Adjustments for Noncash Effects Depreciation expense Loss on sale of land Changes in operating assets and liabilities: Increase in accounts receivable Decrease in inventory Decrease in accounts payable Decrease in salaries payable Decrease in prepaid insurance Increase in income tax payable Net cash flows from operating activitiesStep by Step Solution
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