Question
The financial statements of Simon Co. include the following items (amounts in thousands): Income StatementFor the Year Ended December 31, 2020Net income$443Depreciation and amortization expense303
The financial statements of Simon Co. include the following items (amounts in thousands):
Income StatementFor the Year Ended December 31, 2020Net income$443Depreciation and amortization expense303
At December 31Balance Sheets20202019Accounts receivable$103$169Inventory153130Accounts payable73131Income taxes payable8929
Required:
a.Calculate the net cash flow provided by operations for Simon Co. for the year ended December 31, 2020.(Enter your answer in thousands. (i.e., 20,000 should be entered as 20))
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Accounting Information Systems Controls and Processes
Authors: Leslie Turner, Andrea Weickgenannt, Mary Kay Copeland
3rd edition
1119329566, 1119329565, 1119386179, 1119302110, 9781119302117 , 978-1119329565
