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The following statement of financial position and statement of comprehensive income should be used. Woodburn, Inc. 2018 Statement of comprehensive income ($ in thousands) Net
The following statement of financial position and statement of comprehensive income should be used.
Woodburn, Inc. 2018 Statement of comprehensive income ($ in thousands) | |
Net Sales | $6,380 |
Less: Cost of Goods Sold | 4,120 |
Less: Depreciation | 360 |
Earnings Before Interest and Taxes | 1,900 |
Less: Interest Paid | 45 |
Taxable Income | 1,855 |
Less: Taxes | 650 |
Net Income | 1,205 |
Woodburn, Inc. Statement of financial position Years ended 2017 and 2018 ($ in thousands) | |||||
2017 | 2018 | 2017 | 2018 | ||
Cash | $230 | $340 | Accounts payable | $850 | 1,020 |
Accounts rec. | 910 | 950 | Long-term debt | 1,650 | 1,400 |
Inventory | 1,490 | 1,460 | Common stock | 2,500 | 2,200 |
Total | 2,630 | $2,750 | Retained earnings | 820 | 1,350 |
Net fixed assets | 3,190 | 3,220 | |||
Total assets | $5,820 | $5,970 | Total liabilities & equity | $5,820 | $5,970 |
How will Woodburn's accounts receivable appear on the statement of cash flows for 2018($ in thousands)?
$40 operating activity cash inflow. | ||
$40 financing activity cash inflow. | ||
$40 investment activity cash inflow. | ||
$40 operating activity cash outflow. | ||
$40 investment activity cash outflow. |
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