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Below are some accounts from Patrick's balance sheets, there is also information from their income statement. Use the relevant information to determine their cash flows from operating activities. 12/31/2020 Cash Short Term Investments Accounts Receivable Inventory Accounts Payable Interest Payable Taxes Payable Note Payable Net Income Depreciation Expense Gain on Sale of Investments O $2,390. O $3,390. O $2,810. O $2,410 620 500 350 220 140 60 100 460 2,600 400 600 12/31/2019 350 300 450 140 100 80 150 520

Below are some accounts from Patrick's balance sheets, there is also information from their income statement. Use the relevant information to determine their cash flows from operating activities. 12/31/2020 Cash Short Term Investments Accounts Receivable Inventory Accounts Payable Interest Payable Taxes Payable Note Payable Net Income Depreciation Expense Gain on Sale of Investments O $2,390. O $3,390. O $2,810. O $2,410 620 500 350 220 140 60 100 460 2,600 400 600 12/31/2019 350 300 450 140 100 80 150 520

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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Below are some accounts from Patrick's balance sheets, there is also information from their income statement. Use the relevant information to determine their cash flows from operating activities. 12/31/2020 Cash Short Term Investments Accounts Receivable Inventory Accounts Payable Interest Payable Taxes Payable Note Payable Net Income Depreciation Expense Gain on Sale of Investments O $2,390. O $3,390. O $2,810. $2,410 620 500 350 220 140 60 100 460 2,600 400 600 12/31/2019 350 300 450 140 100 80 150 520
Transcribed Image Text:Below are some accounts from Patrick's balance sheets, there is also information from their income statement. Use the relevant information to determine their cash flows from operating activities. 12/31/2020 Cash Short Term Investments Accounts Receivable Inventory Accounts Payable Interest Payable Taxes Payable Note Payable Net Income Depreciation Expense Gain on Sale of Investments O $2,390. O $3,390. O $2,810. $2,410 620 500 350 220 140 60 100 460 2,600 400 600 12/31/2019 350 300 450 140 100 80 150 520
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