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Vaughn Corporation had the following 2017 income statement. ASSIGNMENT RESOURCES Sales revenue $199,000 Ch 23 Homework M Brief Exercise 23-1 M Brief Exercise 23-2 Cost
Vaughn Corporation had the following 2017 income statement. ASSIGNMENT RESOURCES Sales revenue $199,000 Ch 23 Homework M Brief Exercise 23-1 M Brief Exercise 23-2 Cost of goods sold 110,000 Gross profit 89,000 O Brief Exercise 23-3 O Brief Exercise 23-4 O Brief Exercise 23-5 M Brief Exercise 23-6 O Brief Exercise 23-7 M Brief Exercise 23-8 O Brief Exercise 23-10 M Brief Exercise 23-11 O Brief Exercise 23-12 O Brief Exercise 23-13 Operating expenses (includes depreciation of $19,000) 54,000 $35,000 Net income The following accounts increased during 2017: Accounts Receivable $11,000, Inventory $10,000, Accounts Payable $14,000. Prepare the cash flows from operating activities section of Vaughn's 2017 statement of cash flows using the direct method. Vaughn Corporation Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2017 Cash Flows from Operating Activities Review Score Review Results by Study Objective Cash Received from Customers 188000 Cash Payment to Suppliers 106000 x.... Cash Payment for Operating Expenses Net Cash Provided by Operating Activities
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