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5. Using the information above, what is the cash flow from operating activities?

5. Using the information above, what is the cash flow from operating activities?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income Cash Accounts rec. Inventory Sub-total Galaxy United, Inc. 2009 Income Statement Net fixed assets Total $627,800 521,400 11.200 95,200 10,100 $85,100 28,900 $56,200 Galaxy United, Inc. 2008 and 2009 Balance Sheets 2008 2009 $17,000 $24,700 Accounts payable 54,100 56,700 Long-term debt 189,400 186,700 Common stock* $260,500 $268,100 Retained earnings 261,300 279,400 $521,800 $547,500 Total 2008 2009 $128,600 $134,700 147,500 141,000 125,000 140,000 120,700 131,800 $521,800 $547,500 *The par value of the common stock is $1 per share. 5. Using the information above, what is the cash flow from operating activities?
Transcribed Image Text:Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income Cash Accounts rec. Inventory Sub-total Galaxy United, Inc. 2009 Income Statement Net fixed assets Total $627,800 521,400 11.200 95,200 10,100 $85,100 28,900 $56,200 Galaxy United, Inc. 2008 and 2009 Balance Sheets 2008 2009 $17,000 $24,700 Accounts payable 54,100 56,700 Long-term debt 189,400 186,700 Common stock* $260,500 $268,100 Retained earnings 261,300 279,400 $521,800 $547,500 Total 2008 2009 $128,600 $134,700 147,500 141,000 125,000 140,000 120,700 131,800 $521,800 $547,500 *The par value of the common stock is $1 per share. 5. Using the information above, what is the cash flow from operating activities?
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