Cash flow homework - Rocky Mountain Auto Parts Prepare a...

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Rocky Mountain Auto Parts Prepare a full cash flow statement for year 2 using the direct and the indirect methods Balance sheets year end year1 year 2 Change Cash $6,400 -$8,200 -$14,600 Accounts receivable $2,700 $3,100 $400 Inventory $42,000 $63,000 $21,000 Fixed assets $39,000 $82,300 $43,300 Accumluatedepreciation -$15,600 -$20,100 -$4,500 total assets 74500 120100 Accounts Payable $5,700 $6,400 $700 Wages Payable $1,300 $1,500 $200 Taxes Payable $2,100 $1,900 -$200 Notes Payable $10,000 $30,000 $20,000 Capital Stock $40,000 $40,000 $0 Retained Earnings $15,400 $40,300 $24,900 total Liabilities 74500 120100 and Equity Income Statement Year 2 Sales $150,000 COGS $63,000 Gross Margin $87,000 Salary $32,000 Depeciation $4,500 Other expenses $12,400 $48,900 Net Income before tax $38,100 Taxes $8,200 Net Income $29,900
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Direct method Cash from Operations Cash from sale $149,600 Cash paid to employees -$31,800 Cash paid for taxes -$8,400 Cash Paid for supplies -$83,300 other expense -$12,400 Net cash from operations
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Cash flow homework - Rocky Mountain Auto Parts Prepare a...

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