The financial statements of Wines, Inc., provide the following information for the current year: Dec.31 ($) Jan.1 ($) Accounts receivable Inventory Prepaid expenses 210,000 180,000 200,000 190,000 14,000 10,000 Accounts payable (for merchandise) 176,000 161,000 Accrued expenses payable Net sales 13,000 19,000 2,900,000 Cost of goods sold 1,500,000 Operating expenses (including depreciation of $40,000) 300,000 Wine's net cash flow from operating activities for the current year is: A. $1,105,000 B. $1,375,000 C. $1,495,000 D. Some other amount

The financial statements of Wines, Inc., provide the following information for the current year: Dec.31 ($) Jan.1 ($) Accounts receivable Inventory Prepaid expenses 210,000 180,000 200,000 190,000 14,000 10,000 Accounts payable (for merchandise) 176,000 161,000 Accrued expenses payable Net sales 13,000 19,000 2,900,000 Cost of goods sold 1,500,000 Operating expenses (including depreciation of $40,000) 300,000 Wine's net cash flow from operating activities for the current year is: A. $1,105,000 B. $1,375,000 C. $1,495,000 D. Some other amount

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4SEA: FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement,...

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