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The following information was taken from the comparative financial statements of Imperial Corpora- tion for the years ended December 31, 2017 and 2018. Assume
The following information was taken from the comparative financial statements of Imperial Corpora- tion for the years ended December 31, 2017 and 2018. Assume that there is no income tax incurred. Sales revenue.. Cost of goods sold. Gross margin. Operating expenses: Depreciation expense. Other operating expense. Operating income Non-operating losses: Interest expense Net income.... *All paid in cash $600,000 400,000 $200,000 $65,000 41,500* (106,500) 93,500 (3,500) $90,000 Dec. 31, 2018 Dec. 31, 2017 Accounts receivable (net). Inventory.... Accounts payable Interests payable.. (,)() Use the indirect method to compute cash flows provided by operating activities in 2018. 2154 $35,000 $48,000 55,000 47,000 61,000 64,400 3,000 2,000
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