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Statement of Cash Flows Question. I have the key, please tell me how to get each answer's number. I need the specific calculate. Part 2.
Statement of Cash Flows Question.
I have the key, please tell me how to get each answer's number. I need the specific calculate.
Part 2. Direct Method (7 points) Vandals Company has not yet prepared a formal statement of cash flows for the 2017 fiscal year. Comparative balance sheets as of December 31, 2016, and 2017, and a statement of income and retained earnings for the year ended December 31, 2017, are resented below. Vandals Company Statement of Income and Retained Earnings For The Year Ended December 31,2017 ($000 Omitted) Sales Expenses $10,000 Cost of goods sold Salaries and benefits Heat, light, and power Depreciation Property taxes Patent amortization Miscellaneous expenses Interest $1,800 1,200 600 252 350 15 50 250 4,517 5,483 2,193 3,290 550 3,840 340 $3,500 Income before income taxes Income taxes Net income Retained earnings - Tanuary 1, 2016 Stock dividend declared and issued Retained earnings - December 31, 2016Step by Step Solution
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