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Question Completion Status: Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method. Wonder
Question Completion Status: Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method. Wonder Company Income Statement For Year Ended December 31, 2019 Balance Sales Cost of goods sold 270.000 December 31, 2019 December 31, 2018 156.000 Gross profit from sales Accounts receivable- 41,400 36.000 114,000 Operating expenses Salaries expense 37,500 Merchandise inventory 33.450 30,000 Depreciation expense 10.500 Rent expense 10.000 Prepaid rent 125 600 interest expense 2850 01.050 income from operations 52.350 Loss on sale of land Net income $250 Accounts payale 40.650 39.000 47,100 Salaries payable 15.600 13.500 interest payable 450 375
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