Level 3 Exam ezto hm.tpx Illies Corporation\'s comparative balance sheet appears

Question

Level 3 Exam ezto hm.tpx Illies Corporation's comparative balance sheet appears below Ilies Corporation Ending Balance Beginning Balance Assets Current assets Cash and cash equivalents $74,000 26,500 70,200 170,700 480,500 193,000 $46,000 36,000 66,000 148,000 460.000 66,000 Accounts receivable Total current assets Property, plant, and equipment Less accumulated depreciation Net property, plant, equipment Total assets Liabilities and Stockholders' Equity 294,00 $458,200 $442,000 Current liabilities $ 23,300 $ 26.000 Accounts payable Accrued liabilities Income taxes payable 14 rent liabi Bonds payable Total liabilities Stockholders Re ed ea e to

Explanation / Answer

Operating activities :

Financing activities :

so answer is b) Net cash flow from operating activities 50500;net cash used from financing activities $2000

Net income 23000 Adjustment to reconcile net income Depreciation 27000 Decrease account receivable 9500 Increase inventory (4200) Decrease account payable (2700) Decrease accured liabilities (4200) Increase income tax payable 2100 Net cash flow from operating activities 50500

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