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Prepare your Statement of Cash Flow below: The Robertson Restaurant's Ending balance sheets for 20X1 and 20X2 reveal the following amounts for its current accounts:
Prepare your Statement of Cash Flow below:
The Robertson Restaurant's Ending balance sheets for 20X1 and 20X2 reveal the following amounts for its current accounts: 20X1 20X2 Current Assets: Cash $600 $8,400 Accounts Receivable 13,000 13,500 Food Inventory 7,500 8,000 Prepaid Insurance 5,000 4,500 Total $26,100 $34,400 Current Liabilities: Accounts Payable Accrued Expenses Taxes Payable Total $4,500 3,800 1,750 $10,050 $5,800 3,750 2,000 $11,550 Assume Robertson Restaurant's depreciation expense and net income for 20x2 were $4,800 and $2,000, respectively. Prepare the Cash from operating activies section of the Statement of Cash Flow. Note: The sum of your entries MUST equal the net change in cash on the balance sheet. If it does not, you have done this incorrectlyStep by Step Solution
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