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Robin Ltd. reported the following for 2020: Statement of Income Additional data Dividends Sales $750,000 declared and $5,000 paid Increase in Cost of sales 300,000
Robin Ltd. reported the following for 2020: Statement of Income Additional data Dividends Sales $750,000 declared and $5,000 paid Increase in Cost of sales 300,000 accounts 25,000 payable Purchase of Gross profit 450,000 land 100,000 Cash Decrease in operating 75,000 40.000 inventory expenses Decrease in Depreciation 25,000 accounts 15,000 receivable Gain on sale 15,000 of land Net income $365,000 Using the indirect method, the net cash flow from all activities is O $380,000. $375,000. O $350,000. O $345,000. On the Statement of Cash Flows, which of the following would equal cash paid for income taxes? O income taxes payable plus change in cash O income taxes expense plus ending balance in income taxes payable O income taxes expense plus beginning balance in income taxes payable income taxes expense plus change in income taxes payable A company has surplus cash available and decides to purchase a 120- day treasury bill. The correct classification of the purchase on the Statement of Cash Flows would be as an net change in cash equivalents. as a cash outflow in operating activities. as a cash outflow in investing activities. as a cash outflow in financing activities
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