Q10

The income statement for 2020 is as follows: Net sales $850,000 Cost of goods sold 550,000 Gross profit 300,000 Operating expenses 165,000 Net income $135,000 Additional information: The operating expenses include the depreciation expenses and amortization expenses. Required: Compute the following using the Direct Method (Show your calculations). 1. How much is the cash received from customers? 2. How much is the cash paid to suppliers? 3. How much is the operating expenses paid? 4. How much is the Net cash provided by operating activities? For the toolhar press ALT+510(POYO ALT-EN-F10/Mar The income statement for 2020 is as follows: Net sales $850,000 Cost of goods sold 550,000 Gross profit 300,000 Operating expenses 165,000 Net income $135,000 Additional information: The operating expenses include the depreciation expenses and amortization expenses. Required: Compute the following using the Direct Method (Show your calculations). 1. How much is the cash received from customers? 2. How much is the cash paid to suppliers? 3. How much is the operating expenses paid? 4. How much is the Net cash provided by operating activities? For the toolhar press ALT+510(POYO ALT-EN-F10/Mar Question 10 11 The following comparative statement of financial position for Prett Co. is given for the financial periods 2019 and 2020: 2020 $730,000 2019 $595,000 PPE Accumulated depreciation of PPE 230,000 175,000 Copyrights 75,000 95,000 Receivables 45,000 25.000 Inventory 35,000 62,000 Prepaid expenses 50,000 40.000 Cash 221,000 108,000 $926,000 $750,000 Capital- preferred shares $102,000 100,000 Premium on preferred shares 150,000 160,000 Common stock 106,000 56,000 Retained earnings 45,000 34,000 Bond payable 85,000 Accounts payable 165,000 115,000 Accrued liabilities 273,000 285,000 $926,000 $750,000 Acti Go t