In-Class_CFS_Problem

In-Class_CFS_Problem - . To receive partial credit, you...

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Partial Income Statement For the year ended December 31, 2002 Sales revenue $260,000 Cost of Goods Sold (45,000) Salaries expense (27,000) Depreciation expense (6,000) Partial Balance Sheet 12/31/2002 12/31/2001 Change Current Assets Cash $125,000 $85,000 40,000 Accounts receivable 30,000 50,000 (20,000) Inventory 10,000 25,000 (15,000) Current Liabilities Accounts payable $20,000 $37,000 (17,000) Salaries payable 35,000 15,000 21,000 Required: Compute each of the line items for the operating cash section only
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Unformatted text preview: . To receive partial credit, you must show the computation of those cash flows and properly label each cash flow. Hint: The net cash flows from investing activities were ($60k) of outflows and the net financing cash flows were ($127k) of outflows. Partial Cash Flow Statement For the year ended December 31, 2002 Cash Flows from Operating Activities Cash Inflows: Cash Outflows: Net cash provided by/(used for) operating activities...
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