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Thank you in advance! The income statement of Fina Colada Corp. is presented here. Pina Colada Corp For th Year Ended November 30, 2019 7,453,500
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The income statement of Fina Colada Corp. is presented here. Pina Colada Corp For th Year Ended November 30, 2019 7,453,500 Cost of goods sold 1,930,200 Purchases Goods available for sale Ending inventory 6,412.000 Total cost of goods sold Gross profit 4,943,500 2,520,000 Net income Add tional information: 1. Accounts receivable increased $202,500 during the year, and inventory decressed $461,700 2. Prepaid expenses incressed $183,900 during the year 3. Accounts payable to suppliers of merchand se decreased $331,300 during the year. 4. Accrnued expenses payable decreased $108,900 during the year. 5. Opersting expenses include depreciation expense of $91,400. Prepare the cperating activities section of the ststement of cash flows for the year ended November 30, 2019, for Pina Colada Corp., using the indirect method. (show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,o00).) Pina Colada Corp. Partial Statement of Cash Flows Adiustments to reconcile net income toStep by Step Solution
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