PEACH COMPUTER Income Statement For the year ended December 31, 2024 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $95,000 46,700 68,000 $980,000 490,000 2,300 38,000 4,300 Cash flows from operating activities: 43,000 33,000 2023 $81,500 52,500 51,500 3,600 33,500 6,500 PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $1,625,000 1,546,000 $79,000 Increase (I) or Decrease (D) $13,500 (I) (D) (I) 5,800 16,500 1,300 (D) (I) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) 4,500 2,200 (D)

PEACH COMPUTER Income Statement For the year ended December 31, 2024 Net sales Expenses: Cost of goods sold Operating expenses Depreciation expense Income tax expense Total expenses Net income Cash Accounts receivable Inventory Prepaid rent Accounts payable Income tax payable PEACH COMPUTER Selected Balance Sheet Data December 31 2024 $95,000 46,700 68,000 $980,000 490,000 2,300 38,000 4,300 Cash flows from operating activities: 43,000 33,000 2023 $81,500 52,500 51,500 3,600 33,500 6,500 PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 $1,625,000 1,546,000 $79,000 Increase (I) or Decrease (D) $13,500 (I) (D) (I) 5,800 16,500 1,300 (D) (I) Required: Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method. (Amounts to be deducted should be indicated with a minus sign.) 4,500 2,200 (D)

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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