Given: 2021 2020 Net Sales 9,350,000 7,200,000 Cost of Sales Cost of Goods Sold 6,150,000 4,460,000 Factory Depreciation 350,000 325,000 Gross Income 2,850,000 2,415,000 SG&A 2,111,000 1,785,000 SG&A depreciation 75,000 70,000 Net Operating Income (NOI) 664,000 560,000 Other Income & Expenses Extraordinary Gain (Loss) 250,000 Interest Expense 120,000 105,000 Net Profit Before Taxes 544,000 705,000 Income Taxes 190,400 246,750 Net Income 353,600 458,250 Convert the above 2021 GAAP data to cash flow data.
Given: 2021 2020 Net Sales 9,350,000 7,200,000 Cost of Sales Cost of Goods Sold 6,150,000 4,460,000 Factory Depreciation 350,000 325,000 Gross Income 2,850,000 2,415,000 SG&A 2,111,000 1,785,000 SG&A depreciation 75,000 70,000 Net Operating Income (NOI) 664,000 560,000 Other Income & Expenses Extraordinary Gain (Loss) 250,000 Interest Expense 120,000 105,000 Net Profit Before Taxes 544,000 705,000 Income Taxes 190,400 246,750 Net Income 353,600 458,250 Convert the above 2021 GAAP data to cash flow data.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Given:
2021
2020
Net Sales
9,350,000 7,200,000
Cost of Sales
Cost of Goods Sold
6,150,000 4,460,000
Factory Depreciation
350,000 325,000
Gross Income
2,850,000 2,415,000
SG&A
2,111,000 1,785,000
SG&A depreciation
75,000
70,000
Net Operating Income (NOI)
664,000 560,000
Other Income & Expenses
Extraordinary Gain (Loss)
250,000
Interest Expense
120,000 105,000
Net Profit Before Taxes
544,000 705,000
Income Taxes
190,400 246,750
Net Income
353,600 458,250
Convert the above 2021 GAAP data to cash flow data.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F84aa95be-5dd0-4f99-a989-b4440aeaa96a%2Fc1fbf566-0026-4045-a685-baf86226ba9a%2Fyoela4_processed.png&w=3840&q=75)
Transcribed Image Text:Given:
2021
2020
Net Sales
9,350,000 7,200,000
Cost of Sales
Cost of Goods Sold
6,150,000 4,460,000
Factory Depreciation
350,000 325,000
Gross Income
2,850,000 2,415,000
SG&A
2,111,000 1,785,000
SG&A depreciation
75,000
70,000
Net Operating Income (NOI)
664,000 560,000
Other Income & Expenses
Extraordinary Gain (Loss)
250,000
Interest Expense
120,000 105,000
Net Profit Before Taxes
544,000 705,000
Income Taxes
190,400 246,750
Net Income
353,600 458,250
Convert the above 2021 GAAP data to cash flow data.
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