Oriole Company's income statement contained the following condensed information. ORIOLE COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2022 = $74,400 40,300 12.900 2021 $61000 27.000 $624,500 54,600 24.100 Oriole's balance sheets contained the comparative data at December 31, shown below. 6,400 $972,000 703,200 268,800 40,100 $228.700 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15.000))
Oriole Company's income statement contained the following condensed information. ORIOLE COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation Depreciation expense Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2022 = $74,400 40,300 12.900 2021 $61000 27.000 $624,500 54,600 24.100 Oriole's balance sheets contained the comparative data at December 31, shown below. 6,400 $972,000 703,200 268,800 40,100 $228.700 Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis e.g. (15.000))
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
Chapter8: Operating Assets: Property, Plant, And Equipment, And Intangibles
Section: Chapter Questions
Problem 8.3DC
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