The following income statement and information about changes in noncash current assets and current liabilities are reported.
Solution
Hi,
Please find the detailed answer as follows:
Answer is $438505 .
Thanks.
.
The following income statement and information about changes in noncas.docx
1. The following income statement and information about changes in noncash current assets and
current liabilities are reported.
The following income statement and information about changes in noncash current assets and
current liabilities are reported.
Solution
Hi,
Please find the detailed answer as follows:
Answer is $438505 .
Thanks.
Net Income 490776
Add Depreciation 37752
Amortization 4719
Less Gain on Sale of Equipment -6292
Increase in Accounts Receivable -45100
Increase in Merchandise Inventory -26825
Decrease in Accounts Payable -11725
Decrease in Salaries Payable -4800
Cash Flow from Operating Activities 438505