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The two independent cases are listed below: Case A Case B Year 2 Year 1 Year 2 Year 1 Sales Revenue $10,200 $5,000 $20,200 $14,000
The two independent cases are listed below:
Case A Case B
Year 2 Year 1 Year 2 Year 1
Sales Revenue
$10,200 $5,000 $20,200 $14,000
Cost of Goods Sold
5,280 2,300 11,280 8,280
Gross Profit
4,920 2,700 8,920 5,720
Depreciation Expense
1,000 1,000 1,100 1,100
Salaries and Wages Expense
1,700 1,200 4,200 4,200
Net Income
2,220 500 3,620 420
Accounts Receivable
260 320 670 560
Inventory
710 420 690 720
Accounts Payable
720 660 880 950
Salaries and Wages Payable
960 1,120 370 430
Show the operating activities section of the statement of cash flows for year 2 using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)
Case A Case B Case C
Net Income
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
Depreciation
Changes in Assets and Liabilities
Accounts Receivable
Inventory
Accounts Payable
Accrued Liabilities
Net Cash Provided by Operating Activities $0 $0 $0
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