Blue Corporation Comparative Account Information Relating to Operations For the Year Ended December 31, 2023 2022 $42,000 Accounts receivable Prepaid insurance Accounts payable Interest payable Income tax payable Unearned revenue 2023 $58,800 5,250 61.950 49,350 630 4,410 21,000 . 6,300 1.575 6,300 14,700 Prepare a statement of cash flows (for operating activities only) for the year ended December 31, 2023, using the direct method. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis eg. (15,000))
Blue Corporation Comparative Account Information Relating to Operations For the Year Ended December 31, 2023 2022 $42,000 Accounts receivable Prepaid insurance Accounts payable Interest payable Income tax payable Unearned revenue 2023 $58,800 5,250 61.950 49,350 630 4,410 21,000 . 6,300 1.575 6,300 14,700 Prepare a statement of cash flows (for operating activities only) for the year ended December 31, 2023, using the direct method. (Show amounts that decrease cash flow with either a-sign eg-15,000 or in parenthesis eg. (15,000))
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The controller of Blue Corporation has provided you with the following information:
Blue Corporation
Income Statement
For the Year Ended December 31, 2023
Net sales
Operating expenses
Income from operations
Other revenues and expenses
Gain on sale of equipment
Interest expense
Income before income taxes
Income taxes
Net income
31.500
8,400
$651.000
430.500
220.500
23,100
243,600
97,440
$146.160
Transcribed Image Text:Blue Corporation
Comparative Account Information
Relating to Operations
For the Year Ended December 31, 2023
2023
2022
$58,800
$42,000
5,250
6,300
61.950
49,350
630
Accounts receivable
Prepaid insurance
Accounts payable
Interest payable
Income tax payable
Unearned revenue
4,410
21,000
•
1.575
6,300
14,700
Prepare a statement of cash flows (for operating activities only) for the year ended December 31, 2023, using the direct method. (Show
amounts that decrease cash flow with either a-sign e.g.-15,000 or in parenthesis eg. (15,000))
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