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Presented below is the income statement of Nicklaus, Inc.: The company also indicates that depreciation expense for the year was $14,200. Cash paid to suppliers
Presented below is the income statement of Nicklaus, Inc.: The company also indicates that depreciation expense for the year was $14,200. Cash paid to suppliers is:
$475,000 Sales Cost of goods sold 280.000 Gross profit 195,000 Operating expenses 89,000 106,000 Income before income taxes Income taxes 42.000 Net Income In addition, the following infomation related to net changes in working capital accounts is presented Increase Decrease Cash S15,000 Trade accounts receivable (net) 8,400 $16,200 nventories 6,000 Salaries payable (operating) Trade accounts payable 11Step by Step Solution
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