Statement of Cash Flows (Partial)Cash flows from operating activitiesReceipts from customers$ 1,797,500Payments for salaries(249,035)Payments for rent(49,600)|Payments for utilities(18,125)Payments for inventory(966,000)$514,740Net cash provided by operating activities%24%24 SONAD COMPANYIncome StatementFor Year Ended December 31$ 1,828,000991,000SalesCost of goods soldGross profitOperating expenses837,000$ 245,53544,20049,6004,20018,125SalariesexpenseDepreciation expenseRent expenseAmortization expenses-PatentsUtilities expense361,660475,340Gain on sale of equipment6,200$ 481,540Net income$ 30,500 increase Accounts payable25,000 increase Salaries payable$ 12,500 decrease3,500 decreaseAccounts receivableInventory

Cash flow statement means the statement which shows the cash flow in or out of business enterprises…

Statement of Cash Flows (Partial) Cash flows from operating activities Receipts from customers $ $ 1,797,500 Payments for salaries (249,035) Payments for rent (49,600) Payments for utilities (18,125) Payments for inventory (966,000) Net cash provided by operating activities 514 7Ao %24 %24

Statement of Cash Flows (Partial) Cash flows from operating activities Receipts from customers $ $ 1,797,500 Payments for salaries (249,035) Payments for rent (49,600) Payments for utilities (18,125) Payments for inventory (966,000) Net cash provided by operating activities 514 7Ao %24 %24

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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