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The following information is provided for Green Bay Corporation Balance Sheet Accounts 2018 2017 Cash $35,000 Accounts Receivable 60,000 $60,000 75,000 30,000 55,000 Inventory 20,000
The following information is provided for Green Bay Corporation Balance Sheet Accounts 2018 2017 Cash $35,000 Accounts Receivable 60,000 $60,000 75,000 30,000 55,000 Inventory 20,000 Buildings 55,000 Accounts Payable 36,000 4,000 Accrued Payables Accumulated Depreciation - Buildings 25,000 12,000 9,000 16.000 Income Statement Accounts 2018 Sales Revenue $700,000 Cost of Goods Sold 490,000 Operating Expenses Net Income 125,000 85,000 Additional data: Operating expenses include depreciation expense of $7,000 Accounts payable are all relevant to payments to suppliers Accrued payables are all relevant to payments for operating expenses Instructions: Prepare the net cash flow from operating activities section of the 2018 statement of cash flows using the direct method Show all working and calculate payments to suppliers and payments for operating expenses separately
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