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please helpp Question 6 Dover Manufacturing provides the following information in regards to its operations for the year ended Jun 2018: Income statement for year
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Question 6 Dover Manufacturing provides the following information in regards to its operations for the year ended Jun 2018: Income statement for year ended 30 June 2018 Sales 847,800 Less Cost of goods sold 383,900 Gross profit 463,900 Less operating expenses 14,700 Salaries and wages 111,800 Depreciation - Plant 18,300 Doubtful debts 800 Other operating expenses 261,500 Net profit 72,300 A comparison of the current assets and current liabilities (excluding bank) for the years ended 30 June 2017 and 30 June 2018 revealed: 2017 2018 Current assets Accounts receivable 91,000 88,000 Prepayments 7,000 8,000 Inventory 52,000 57,000 Current liabilities Accounts payable 69,000 76,000 Accruals 8,000 7,000 Additional information 1. All changes in the current assets and current liabilities are the result of operating activities. 2. The cash flow statement shows net cash from operating activities of $94,400 Prepare a reconciliation of cash flows from operating activities to net profit. Please answer Question 6 hereStep by Step Solution
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