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please help, will thumps up Sof Touch Company was started several years ago by two golf instructors. The company's comparative balance sheets and income statement
please help, will thumps up
Sof Touch Company was started several years ago by two golf instructors. The company's comparative balance sheets and income statement are presented below, along with additional information. Additional Data: a. Bought new golf clubs using cash, 51100 b. Borrowed $3,000 cash from the bank during the year. c. Accounts Payable includes only purchases of services made on credit for operating purposes. Becaise there are no liability. accounts relating to income tax assume that income Tax Expense was fuly poid in cash. Required: 1. Prepare the statement of cash flows for the current year ended December 31 using the drect mechod. TiP. Remember to exclude depreciation expense when converting to the cash bosis. (Amounts to be deducted should be indicated with a minus sign.) Step by Step Solution
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