Current Attempt in Progress For 2022, the income statement of George Corporation had revenues of $165,120 and operating expenses of $84,480. Accounts receivable and accounts payable at year-end were $57,600 and $22,080, respectively. At the beginning of the year, the balances were $37.440 for accounts receivable and $14,400for accounts payable. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000)) Net cash provided (used) by operating activity $
Current Attempt in Progress For 2022, the income statement of George Corporation had revenues of $165,120 and operating expenses of $84,480. Accounts receivable and accounts payable at year-end were $57,600 and $22,080, respectively. At the beginning of the year, the balances were $37.440 for accounts receivable and $14,400for accounts payable. Assume that accounts payable related to operating expenses. Ignore income taxes. Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000)) Net cash provided (used) by operating activity $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Current Attempt in Progress
For 2022, the income statement of George Corporation had revenues of $165,120 and operating expenses of $84,480. Accounts
receivable and accounts payable at year-end were $57,600 and $22,080, respectively. At the beginning of the year, the balances were
$37.440 for accounts receivable and $14,400for accounts payable. Assume that accounts payable related to operating expenses.
Ignore income taxes.
Compute net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a-sign eg.
-15,000 or in parenthesis e.g. (15,000))
Net cash provided (used) by operating activity $
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