> Answer is complete but not entirely correct. PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Cash received from customers Cash paid to suppliers Cash paid for operating expenses Cash paid for income taxes Net cash flows from operating activities $ 1,630,800 992,000 × (488,700) (35,200) $ 2,098,900
> Answer is complete but not entirely correct. PEACH COMPUTER Statement of Cash Flows (partial) For the Year Ended December 31, 2024 Cash flows from operating activities Cash received from customers Cash paid to suppliers Cash paid for operating expenses Cash paid for income taxes Net cash flows from operating activities $ 1,630,800 992,000 × (488,700) (35,200) $ 2,098,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Portions of the financial statements for Peach Computer are provided below.
PEACH COMPUTER | ||
Income Statement | ||
For the year ended December 31, 2024 | ||
Net sales | $1,625,000 | |
---|---|---|
Expenses: | ||
Cost of goods sold | $980,000 | |
Operating expenses | 490,000 | |
43,000 | ||
Income tax expense | 33,000 | |
Total expenses | 1,546,000 | |
Net income | $79,000 |
PEACH COMPUTER | ||||
Selected |
||||
December 31 | ||||
2024 | 2023 | Increase (I) or Decrease (D) | ||
---|---|---|---|---|
Cash | $95,000 | $81,500 | $13,500 | (I) |
46,700 | 52,500 | 5,800 | (D) | |
Inventory | 68,000 | 51,500 | 16,500 | (I) |
Prepaid rent | 2,300 | 3,600 | 1,300 | (D) |
Accounts payable | 38,000 | 33,500 | 4,500 | (I) |
Income tax payable | 4,300 | 6,500 | 2,200 | (D) |
Required:
Prepare the operating activities section of the statement of
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