Check my work The following income statement and information about changes in no

Question

Check my work The following income statement and information about changes in noncash current assets and current liabilities are reported SONAD COMPANY Income Statement For Year Ended December 31, 2017 $1,828,000 991,000 837,000 Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $245,535 44,200 49,600 4,200 18,125 361,660 475,340 6,200 481,540 Gain on sale of equipment Net income Changes in current asset and current liability accounts for the year that relate to operations follow Accounts receivable Inventory 30,500 increase Accounts payable ,000 increase Salaries payable $12,500 decrease 3,500 decrease

Explanation / Answer

Please please appreciate the efforts and give it a like, would be very helpful. Thanks  

CASHFLOW FROM OPERATING ACTIVITIES Net Income $ 481,540.00 Add: Non Cash Exp Depreciation $    44,200.00 Ammortization $    49,600.00 Less: Non Operaintg Gains Gain on sale of equipment $ 575,340.00 Cashflow before working capital changes $ 624,940.00 Working Capital Changes: Increase in AR $ (30,500.00) Increase in Inventory $ (25,000.00) Decrease in AP $ (12,500.00) Decrease in salaries payable $     (3,500.00) Cashflow from Operating Activities $ 553,440.00

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.