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Please make the answer clear thank you Following are the income statement and some additional information for Carolina Consulting Company. All sales were on credit
Please make the answer clear thank you
Following are the income statement and some additional information for Carolina Consulting Company. All sales were on credit and accounts receivable decreased by $1,050 in 2021 compared to 2020 . Merchandise purchases were on credit with a decrease in accounts payable of $850 during the year. Ending inventory was $650 larger than beginning inventory. Income taxes payable increased $450 during the year. All operating expenses were paid for in cash. Required: Prepare the cash flows from operating activities section of the statement of cash flows using the direct method. (Amounts to be deducted should be indicated with a minus sign.) All sales were on credit and accounts receivable decreased by $1,0 ? credit with a decrease in accounts payable of $850 during the year. Income taxes payable increased $450 during the year. All operating Required: Prepare the cash flows from operating activities section of the statem deducted should be indicated with a minus sign.) Step by Step Solution
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