Part 1 of 2 The 2020 comparative balance sheet and income statement of O'Reilly Electricity Inc. follow HW Score: 0%, 0 of 15 points O Points: 0 of 5 Save Requirement 1. Prepare the operating section of the 2020 cash flow statement, formatting by the direct method. (Use parentheses or a minus sign for numbers to be subtracted or for negative cash flows) O'Reilly Electricity Inc. Cash Flow Statement For the Year Ended August 31, 20201 Cash flows from operating activities Cash receipts Collections from customers Interest received Total cash receipts Cash payments To suppliers To employees Other operating expenses Interest Income tax Total cash payments Net cash provided by operating activities Culator Clear alt Check answer homeworkId=658569873&questionid=1&flushed=false&cid=7567672¢erwin=yes arative b con to v ity had n ommon s Question 2, Problem 17-6A (similar to) Comparative balance sheet HW Score: 0%, 0 of 1 nts: 0 of 5 and or plant ane operating s look diff O'Reilly Electricity Inc. Balance Sheet June 30, 2020 and 2019 2020 2019 Assets riepart Current assets uses or a mum Cash and cash equivalents $ 65,000 $ 174,000 Accounts receivable 417,000 443,000 Interest receivable 6,200 9,400 rom ope ipts ions from t receive al cash r ments pliers Inventory Prepaid expenses Plant and equipment, net Land Total assets Liabilities Current liabilities Accounts payable $ 2,924,200 $ 2,714,400 993,000 915,000 25,000 28,000 1,017,000 943,000 401,000 202,000 ployees Interest payable Operating Salaries payable 1 Lease liabilities e taxi al cash p sh provid Print Done 114,000 $ 191,000 75,000 83,000 79,000 16,000 187,000 194,000 ThomeworkId=658569873&questionid=1&flushed=false&cid=7567672¢erwin-yes parative balar icon to view ity had no no ommon shar operating sec s look differen Question 2, Problem 17-6A (similar to) Part 1 of 2 Income statement O'Reilly Electricity Inc. Income Statement For the Year Ended August 31, 2020 Revenues Prepare and Sales revenue Interest revenue Total revenues Expenses Cost of goods sold $ 1,985,000 om operati Salaries expense 816,000 pts Amortization expense 267,000 ons from cu Other operating expenses 503,000 received cash rece ents ers oyees Interest expense 262,000 171,000 Income tax expense Total expenses Net income Derating ex ax cash paym provided t "Includes lease liability and prepaid expense. Print Done $ 4,400,000 29,000 4,429,000 4,004,000 $ 425,000 HW Score: 0%, 0 of 15 O Points: 0 of 5 - X of land or plant and e HSS or a mus * or Question 2, Problem 17-6A (similar to) Part 1 of 2 The 2020 comparative balance sheet and income statement of O'Reilly Electricity Inc. follow HW Score: 0%, 0 of 15 points O Points: 0 of 5 (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) Save O'Reilly Electricity had no non-cash investing and financing transactions during 2020. During the year, there were no sales of land or plant and equipment, no issuances of notes payable, and no repurchase of common shares. Required 1.Prepare the operating section of the 2020 cash flow statement, formatting by the direct method. 2. How would this look different if the indirect method were used for Requirement 17 Requirement 1. Prepare the operating section of the 2020 cash flow statement, formatting by the direct method. (Use parentheses or a minus sign for numbers to be subtracted or for negative cash flows.) O'Reilly Electricity Inc. Cash Flow Statement For the Year Ended August 31, 2020 Cash flows from operating activities Cash receipts Collections from customers Interest received Total cash receipts Cash payments To suppliers To employees Other operating expenses Interest income tax Total cash payments Clear all Check answer * or Question 2, Problem 17-6A (similar to) Part 1 of 2 HW Score: 0%, 0 of 15 points O Points: 0 of 5 Save The 2020 comparative balance sheet and income statement of O'Reilly Electricity Inc. follow (Click the icon to view the comparative balance sheet.) (Click the icon to view the income statement.) O'Reilly Electricity had no non-cash investing and financing transactions during 2020. During the year, there were no sales of land or plant and equipment, no issuances of notes payable, and no repurchase of common shares. Required 1.Prepare the operating section of the 2020 cash flow statement, formatting by the direct method. 2. How would this look different if the indirect method were used for Requirement 17 Requirement 1. Prepare the operating section of the 2020 cash flow statement, formatting by the direct method. (Use parentheses or a minus sign for numbers to be subtracted or for negative cash flows.) O'Reilly Electricity Inc. Cash Flow Statement For the Year Ended August 31, 2020 Cash flows from operating activities Cash receipts Collections from customers Interest received Total cash receipts Cash payments To suppliers To employees Other operating expenses Interest income tax Total cash payments Clear all Check answer