P13.3A (LO 2), AP The income statement of Whitlock Company is presented here. Whitlock Company Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Net income $1,900,000 4,400,000 6,300,000 1,400,000 $7,700,000 4,900,000 2,800,000 1,150,000 $1,650,000 Additional information: 1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. 2. Prepaid expenses increased $150,000 during the year. & Accounts payable to suppliers of merchandise decreased $340,000 during the year. 4. Accrued expenses payable decreased $100,000 during the year. 5. Operating expenses include depreciation expense of $70,000. *P13.4A (LO 4), AP Data for Whitlock Company are presented in P13.3A. Instructions Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities Excel Prepare the operating activities section direct method Cash from operating activities $1,430,000
P13.3A (LO 2), AP The income statement of Whitlock Company is presented here. Whitlock Company Income Statement For the Year Ended November 30, 2020 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory Total cost of goods sold Gross profit Operating expenses Net income $1,900,000 4,400,000 6,300,000 1,400,000 $7,700,000 4,900,000 2,800,000 1,150,000 $1,650,000 Additional information: 1. Accounts receivable increased $200,000 during the year, and inventory decreased $500,000. 2. Prepaid expenses increased $150,000 during the year. & Accounts payable to suppliers of merchandise decreased $340,000 during the year. 4. Accrued expenses payable decreased $100,000 during the year. 5. Operating expenses include depreciation expense of $70,000. *P13.4A (LO 4), AP Data for Whitlock Company are presented in P13.3A. Instructions Prepare the operating activities section of the statement of cash flows using the direct method. Prepare the operating activities Excel Prepare the operating activities section direct method Cash from operating activities $1,430,000
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 9.4.6P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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