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Use the following information from the Chocolate Companys financial statements: Income Statement Balance Sheet Sales $108,900 Cost of Goods Sold (67,000) Salaries Expense (23,000) Depreciation
Use the following information from the Chocolate Companys financial statements:
Income Statement | Balance Sheet | ||
Sales | $108,900 | ||
Cost of Goods Sold | (67,000) | ||
Salaries Expense | (23,000) | ||
Depreciation Expense | (9,000) | ||
Net Income | $9,900 | ||
Accounts Receivable Increase | $2,300 | ||
Merchandise Invendory Decrease | 1,900 | ||
Salaries Payable Increase | 650 |
Determine operating net cash flows (indirect method)
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