RODRIQUEZ COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2012 $6,857,7
ID: 2375243 • Letter: R
Question
RODRIQUEZ COMPANYINCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2012 $6,857,780 $1,899,410 4,347,930 6,247,340 1,605,290 4,642,050 2,215,730 441,910 709,070 1,150,980 $1,064,750 RODRIQUEZ COMPANY
Statement of Cash Flows (Partial)
For the Year Ended December 31, 2012 RODRIQUEZ COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2012 Sales
$6,857,780 Cost of goods sold
Beginning inventory
$1,899,410
Purchases
4,347,930
Goods available for sale
6,247,340
Ending inventory
1,605,290
Cost of goods sold
4,642,050 Gross profit
2,215,730 Operating expenses
Selling expenses
441,910
Administrative expenses
709,070
1,150,980 Net income
$1,064,750
Explanation / Answer
Amount Net Income 1110880 Add Decrease in Accounts Receivables 315430 Less Increase in Prepaid Expenses -176350 Less Decrease in Accounts Payable -273190 Less Decrease in Accrued Expenses Payable -117520 Add Depreciation Expense 63170 Cash Flow from Operating Activities 922420
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