$7,300.00NET INCOME-4300UTIL EXPINTR EXPINSUR EXP-5300-10500RENT EXP00SAL EXP-19500DEPRE EXP-57000COGSEXPENSES:REVENUESALES$142,000.00BIDDLE COMPAN INCOME STATEMENT FOR YEAR END DECEMBER 31, 2018 moysPlease Show workdifferences3. COMPARE the two statements of cash flows and comment on theINDIRECT method2.Prepare the cash flows from operating activities of the company's 2018 statement of 2018 using theDIRECT method1. Prepare the cash flows from operating activities section of the company's 2018 statement of 2018 flows using theQUESTIONS$330520PREPAID RENT:PREPAID INSURANCE:310520PAYABLE:UTILITIESACCOUNTS SALARIES:850009'L1,180006'sACCOUNTS PAYABLE:2,29000T'L8,8003,480INVENTORY:RECIEVABLE:ACCOUNTSACCOUNTS 2018BIDDLE COMPANY SELECTED BALANCE SHEET2018 2017$7,300.00NET INCOME

The cash flow statement is prepared to record the cash transactions incurred during the period and…

BIDDLE COMPANY INCOME STATEMENT FOR YEAR END DECEMBER 31, 2018 SALES REVENUE $142,000.00 EXPENSES: COGS -57000 DEPRE EXP -19500 SAL EXP -33000 RENT EXP -10500 INSUR EXP -5300 INTR EXP -5100 UTIL EXP -4300 NET INCOME $7,300.00

BIDDLE COMPANY INCOME STATEMENT FOR YEAR END DECEMBER 31, 2018 SALES REVENUE $142,000.00 EXPENSES: COGS -57000 DEPRE EXP -19500 SAL EXP -33000 RENT EXP -10500 INSUR EXP -5300 INTR EXP -5100 UTIL EXP -4300 NET INCOME $7,300.00

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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