Rewe Company's income statement contained the following condensed information REWE COMPANY Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $614,000 Depreciation expense 55,000 Loss on disposal of plant assets Income before income taxes Income tax expense Net income Accounts receivable Accounts payable Income taxes payable 2022 $70,000 41,000 13,000 2021 $60,000 Rewe's balance sheets contained the following comparative data at December 31. 32,000 7,000 16,000 Accounts payable pertain to operating expenses. $970,000 685,000 285,000 56,000 $229,000

Use the information above to calculate cash flows from operating activities using the indirect method. Note: Amounts to be deducted should be indicated by a minus sign. Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Income statement items not affecting cash Changes in current operating assets and liabilities $ 42,000 S 42.000 42.000

The comparative balance sheets for 2021 and 2020 and the statement of income for 2021 are given below for Wright Company. Additional information from Wright's accounting records is provided also.  WRIGHT COMPANYComparative Balance SheetsDecember 31, 2021 and 2020($ in thousands)   2021   2020   Assets                 Cash $ 116     $ 95     Accounts receivable   136       140     Short-term investment   47       14     Inventory   137       135     Land   102       125     Buildings and equipment   695       530     Less: Accumulated depreciation   (193 )     (140 )     $ 1,040       899     Liabilities                 Accounts payable $ 40     $ 48     Salaries payable   2       6     Interest payable   8       5     Income tax payable   5       10     Notes payable   0       33     Bonds payable   296       230     Shareholders’ Equity                 Common stock   390       330     Paid-in capital—excess of par   187       165…

Forecast an Income Statement Following is the income statement for Medtronic PLC. Consolidated Statement of Income ($ millions) For Fiscal Year Ended April 26, 2019 Net sales $27,807 Costs and expenses   Cost of products sold 8,331 Research and development expense 2,330 Selling, general, and administrative expense 9,480 Amortization of intangible assets 1,605 Restructuring charges, net 198 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 5,439 Other nonoperating income, net (373) Interest expense 1,314 Income before income taxes 4,498 Income tax provision 547 Net income 3,951 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $3,932   Use the following assumptions to prepare a forecast of the company’s income statement for FY2020.   Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal…

ICE Drilling Inc.'s balance sheet information and income statement are as follows: ICE Drilling Inc. Income Statement For Year Ended December 31, 2020 Sales Cost of goods sold Gross profit Operating expenses: Depreciation expense Other expenses $1,111,800 561,000 550,800 $ 43,000 305,960 Total operating expenses Profit from operations Loss on sale of equipment Profit before taxes Income taxes Profit 348,960 $ 201,840 11,680 $ 190,160 27,360 $ 162,800 ICE Drilling Inc. Comparative Balance Sheet Information December 31 2020 2019 Cash $121,680 $172,640 Accounts receivable 146,600 112,160 Merchandise inventory 614,200 566,600 Prepaid expenses 12,050 15,000 Equipment 357,480 247,400 Accumulated depreciation 78,560 99,560 Accounts payable 196,610 259,440 Current notes payable 23,400 15,000 Notes payable 210,000 120,600 Common shares 451,800 351,000 Retained earnings 291,640 268,200 Additional information regarding ICE Drilling's activities during 2020: 1. Loss on sale of equipment is…