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You have the following selected information for your company: From the year ending December 31, 2022 Income Statement: Revenue: $16,400 Cost of Goods Sold: $2,800
You have the following selected information for your company: |
From the year ending December 31, 2022 Income Statement: |
Revenue: $16,400 |
Cost of Goods Sold: $2,800 |
Depreciation Expense: $900 |
Wages Expense: $1,775 |
Net Income: $6,000 |
From the Balance Sheets, the following are changes between December 31, 2021 and December 31, 2022. |
(no change for any items not listed) |
Accounts Receivable: from a balance of $2,400 to a balance of $3,100 |
Inventory: from a balance of $4,000 to a balance of $4,600 |
Accounts Payable: from a balance of $1,700 to a balance of $1,300 |
Also from the December 31, 2021 Balance Sheet, Cash was $2,400 |
For 2022, there was $1,200 in capital expenditures and $500 paid in cash dividends: but no other financing or investing activities. |
Based on the appropriate available information above, AStatement of Cash Flow (Indirect Method), using the proper format. (i.e., headings and properly label all line items) should be made |
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