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?? Remaining Time: 1 hour, 46 minutes, 43 seconds Question Completion Status 10 points Save Antwer QUESTION 7 Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method
?? Remaining Time: 1 hour, 46 minutes, 43 seconds Question Completion Status 10 points Save Antwer QUESTION 7 Use the following information to prepare the operating activities section of the statement of cash flows using the indirect method. Wonder Company income Statement For Year Ended December 31, 2019 Balance Sales 270.000 December 31, 2019 December 31, 2018 Cost of goods sold 150.000 41.400 36.000 Accounts receivable Gross profit from sales 114.000 30.000 Merchandise inventory 33.450 37.500 10.500 10.800 325 Operatine expenses Salaries expense Depreciation expense Rent expense Interest pense ncome from operations Loss on sale of land Net income Preparent 52.350 5230 17.00 Accounts 20650 39.000 Salaries pava 15.600 13.500 Interested 735 de Sam Smith OWO NOVO
Expert Solution
| Net Income | 47,100 | |
| Depreciation | 10,500 | |
| Loss on sale | 5,250 | |
| Increase in Accounts Receivable | (5,400) | |
| Decrease in Inventoey | 3,450 | |
| Increase in Prepaid Rent | (225) | |
| Decrease in Accounts Payable | (1,650) | |
| Inxrease in Salry Payable | 2,100 | |
| Incrase In interest Payable | 75 | |
| Cash Provided from Operating Activities | 61,200 |
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