ons of the financial statements for Petoskey Technologies are provided below. PETOSKEY TECHNOLOGIES Income Statement For the Year Ended December 31, 2024 t sales. penses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses t income crease in inventory crease in prepaid rent crease in salaries payable crease in accounts payable crease in income tax payable $177,000 52,000 15, 200 18,000 PETOSKEY TECHNOLOGIES Selected Balance Sheet Data ecember 31, 2024, compared to December 31, 2023 crease in accounts receivable $ 5,200 12, 200 8,200 4,200 7,200 16,800 $297,000 262,200 $ 34,800 ired: are the operating activities section of the statement of cash flows for Petoskey Technologies using the indirect hod. (Amounts to be deducted should be indicated with a minus sign.) h Flows from Operating Activities: PETOSKEY TECHNOLOGIES Statement of Cash Flows For the Year Ended December 31, 2024 Net cash flows from operating activities djustments to reconcile net income to net cash flows from operating vities $ 0
ons of the financial statements for Petoskey Technologies are provided below. PETOSKEY TECHNOLOGIES Income Statement For the Year Ended December 31, 2024 t sales. penses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses t income crease in inventory crease in prepaid rent crease in salaries payable crease in accounts payable crease in income tax payable $177,000 52,000 15, 200 18,000 PETOSKEY TECHNOLOGIES Selected Balance Sheet Data ecember 31, 2024, compared to December 31, 2023 crease in accounts receivable $ 5,200 12, 200 8,200 4,200 7,200 16,800 $297,000 262,200 $ 34,800 ired: are the operating activities section of the statement of cash flows for Petoskey Technologies using the indirect hod. (Amounts to be deducted should be indicated with a minus sign.) h Flows from Operating Activities: PETOSKEY TECHNOLOGIES Statement of Cash Flows For the Year Ended December 31, 2024 Net cash flows from operating activities djustments to reconcile net income to net cash flows from operating vities $ 0
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...
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