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Pls answer for Cash flows statement indirect method. Operating activities, investing activities and financing activities. Thank you so much for the help. Salaries payable Lease
Pls answer for Cash flows statement indirect method. Operating activities, investing activities and financing activities. Thank you so much for the help.
Salaries payable Lease liabilities Income tax payable Long-term liabilities Notes payable Shareholders' equity Common shares Retained earnings Total liabilities and shareholders' equity Revenues Sales revenue Interest revenue Total revenues Cost of goods sold Salaries expense Amortization expense Other operating expenses Interest expense Income tax expense Total expenses Expenses Net income 71,000 181,000 73,000 450,000 1,411,000 525,000 $2,888,000 SHOCK ELECTRICITY INC. Income Statement For the Year Ended August 31, 2020 $1,952,000 814,000 253,000 497,000 246,000 169,000 14,000 187,000 38,000 650,000 1,223,000 296,000 $2,654,000 $4,380,000 17,000 4,397,000 3,931,000 $ 466,000 P17-3A The 2020 comparative balance sheet and income statement of Shock Electricity Inc. follow: SHOCK ELECTRICITY INC. Balance Sheet August 31, 2020 and 2019 Assets 2020 2019 Current assets Cash and cash equivalents $ 47,000 $ 156,000 Accounts receivable 415,000 431,000 Interest receivable 6,000 9,000 Inventory 993,000 899,000 Prepaid expenses 17,000 22,000 Electrical equipment, net 1,009,000 937,000 Land 401,000 200,000 Total assets $2,888,000 $2,654,000 Liabilities Current liabilities $ 114,000 $ 179,000 63,000 67,000 71,000 14,000 19700 Accounts payable Interest payable Salaries payable Salaries payable Lease liabilities Income tax payable Long-term liabilities Notes payable Shareholders' equity Common shares Retained earnings Total liabilities and shareholders' equity 1910 71,000 181,000 73,000 450,000 1,411,000 525,000 $2,888,000 18 14,000 187,000 38,000 650,000 1,223,000 296,000 $2,654,000 Step by Step Solution
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