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Subtitie Paragraph Styles company builiding tranafer In prepering a full set of consode etatements at December 31, 2019. (4 marka) What amount of income will
Subtitie Paragraph Styles company builiding tranafer In prepering a full set of consode etatements at December 31, 2019. (4 marka) What amount of income will be assigned to the non-controlling intorest in the consolidated income statement for 2019 Spit reports net income of $140,00 fo 2019? (4 marice) Question 4 Mega Screens Inc. reports net sales of $3,200,000, cost of goods sold of $2,000,000, and Income tax expense of $150,000 for the year ended December 31,2018. Selected balance sheet accounts are as follows: (12 marke) Increase (I) or Decrease (D) $45,000 (D) 55,000 (I) 2017 $195,000 230,000 2018 $150,000 285,000 Cash Accounts receivable Inventory Accounts 165.000 137,000 40,000 (D) 17,000 (D) 125.000 120,000 payable Income tax payable 9,000 () 16 25,000 Required: a) Calculate cash received from customers, cash paid to suppliers, and cash paid fo income taxes. (6 marks) b) Why might a company's operating profit in a particular period be different from its cash flow from operations? (3 marks) c) Is cash flow more reliable than accounting profit? Which one is more useful? ( marks)
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