Assets: Current Assets: Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets Total Assets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Retained Earnings Total Equities Net Credit Sales Cost of Goods Sold Gross Profit Operating Expenses Income before tax Income tax expense Net Income Deutsch, Inc. Income Statement December 31, 2022 2022 December 31, 2021 $ 1,380,000 $1,080,000 3,120,000 2,160,000 3,900,000 2,520,000 702,000 630,000 9,102,000 6,390,000 450,000 4,380,000 2,880,000 (900,000) (540,000) 2,340,000 $8.730.000 3,480,000 $13.032.000 $ 2,550,000 618,000 3,168,000 1,650,000 6,000,000 4,800,000 2,214,000 1,176,000 $8.730.000 $13.032.000 $2,190,000 564,000 2,754,000 $14,040,000 7,830,000 6,210,000 5,072,000 1,138,000 100,000 $1.038.000 Instructions: Prepare the net cash provided (used) by operating activities using the direct method. Show all calculations!

Assets: Current Assets: Cash Accounts Receivable (net) Inventory Prepaid Expenses Total Current Assets Long-Term Investments Plant Assets: Property, Plant & Equipment Accumulated Depreciation Total Plant Assets Total Assets Equities: Current Liabilities: Accounts Payable Accrued Expenses Total Current Liabilities Long-Term Notes Payable Stockholders' Equity: Common Stock Retained Earnings Total Equities Net Credit Sales Cost of Goods Sold Gross Profit Operating Expenses Income before tax Income tax expense Net Income Deutsch, Inc. Income Statement December 31, 2022 2022 December 31, 2021 $ 1,380,000 $1,080,000 3,120,000 2,160,000 3,900,000 2,520,000 702,000 630,000 9,102,000 6,390,000 450,000 4,380,000 2,880,000 (900,000) (540,000) 2,340,000 $8.730.000 3,480,000 $13.032.000 $ 2,550,000 618,000 3,168,000 1,650,000 6,000,000 4,800,000 2,214,000 1,176,000 $8.730.000 $13.032.000 $2,190,000 564,000 2,754,000 $14,040,000 7,830,000 6,210,000 5,072,000 1,138,000 100,000 $1.038.000 Instructions: Prepare the net cash provided (used) by operating activities using the direct method. Show all calculations!

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter13: Statement Of Cash Flows

Section: Chapter Questions

Problem 7E

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