eBook Statement of Cash Flows Zowine Company's condensed income statement for the year ended December 31, 20-2, is shown. Net sales $760.000 Cost of goods sold 553,000 Gross profit $207.000 Operating expenses 29,000 Income before taxes $178,000 Income tax expense 53.400 Net income $124,600 Additional information obtained from Zowine's comparative balance sheets as of December 31, 20-2 and 20-1, is shovm 20-2 20-1 Cash $71,600 $22.000 Accounts receivable 71.000 103.000 Merchandise inventory 89,000 130,000 Accounts payable 52.000 88.000 The following additional information was obtained from Zovine's financial statements and ausolary records for the year ended December 31. 20-2 is shown Acquired a new warehouse 5118,000 Bought new warehouse equipment 78,000 Issued a note to the bank 40,000 Issued additional common stocks Par value 52,000 Paid-in capital in excess of par 21,000 Declared and paid cash dividends 29,000 Required: Check My Work2 more Check My Work uses remaining All work saved.

eBook Statement of Cash Flows Zowine Company's condensed income statement for the year ended December 31, 20-2, is shown. Net sales $760.000 Cost of goods sold 553,000 Gross profit $207.000 Operating expenses 29,000 Income before taxes $178,000 Income tax expense 53.400 Net income $124,600 Additional information obtained from Zowine's comparative balance sheets as of December 31, 20-2 and 20-1, is shovm 20-2 20-1 Cash $71,600 $22.000 Accounts receivable 71.000 103.000 Merchandise inventory 89,000 130,000 Accounts payable 52.000 88.000 The following additional information was obtained from Zovine's financial statements and ausolary records for the year ended December 31. 20-2 is shown Acquired a new warehouse 5118,000 Bought new warehouse equipment 78,000 Issued a note to the bank 40,000 Issued additional common stocks Par value 52,000 Paid-in capital in excess of par 21,000 Declared and paid cash dividends 29,000 Required: Check My Work2 more Check My Work uses remaining All work saved.

Name: How do you prepare a statement of cash flows for Zowine for the year e
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Description: How do you prepare a statement of cash flows for Zowine for the year ended December 31, 20-2? eBookStatement of Cash FlousZowine Company's condensed income statement for the year ended December 31, 20-2, is shown.Net sales$760.000Cost of goods sold55

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.26MCE

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