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Monty Corporation had the following 2025 income statement. Sales revenue $202,000 Cost of goods sold 132,000 Gross profit 70,000 Operating expenses (includes depreciation of $20,000) 51,000 Net income $19,000 The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method. MONTY CORPORATION Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2025 Cash Flows from Operating Activities Cash Received from Customers Cash Payment to Suppliers Cash Payment for Operating Expenses Net Cash Provided by Operating Activities S 130000 i 31000 i 191000 30000 $ 161000 Headland Corporation had the following 2025 income statement. Sales revenue $213,000 Cost of goods sold 109,000 Gross profit 104,000 Operating expenses (includes depreciation of $19,000) 53,000 Net income $51,000 The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2025 statement of cash flows using the direct method. HEADLAND CORPORATION Statement of Cash Flows-Direct Method (Partial) $ $

Monty Corporation had the following 2025 income statement. Sales revenue $202,000 Cost of goods sold 132,000 Gross profit 70,000 Operating expenses (includes depreciation of $20,000) 51,000 Net income $19,000 The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method. MONTY CORPORATION Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2025 Cash Flows from Operating Activities Cash Received from Customers Cash Payment to Suppliers Cash Payment for Operating Expenses Net Cash Provided by Operating Activities S 130000 i 31000 i 191000 30000 $ 161000 Headland Corporation had the following 2025 income statement. Sales revenue $213,000 Cost of goods sold 109,000 Gross profit 104,000 Operating expenses (includes depreciation of $19,000) 53,000 Net income $51,000 The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2025 statement of cash flows using the direct method. HEADLAND CORPORATION Statement of Cash Flows-Direct Method (Partial) $ $

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...
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Monty Corporation had the following 2025 income statement. Sales revenue $202,000 Cost of goods sold 132,000 Gross profit 70,000 Operating expenses (includes depreciation of $20,000) 51,000 Net income $19,000 The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method. MONTY CORPORATION Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2025 Cash Flows from Operating Activities Cash Received from Customers Cash Payment to Suppliers Cash Payment for Operating Expenses Net Cash Provided by Operating Activities S 130000 i 31000 i 191000 30000 $ 161000
Transcribed Image Text:Monty Corporation had the following 2025 income statement. Sales revenue $202,000 Cost of goods sold 132,000 Gross profit 70,000 Operating expenses (includes depreciation of $20,000) 51,000 Net income $19,000 The following accounts increased during 2025: Accounts Receivable $11,000, Inventory $12,000, and Accounts Payable $14,000. Prepare the cash flows from operating activities section of Monty's 2025 statement of cash flows using the direct method. MONTY CORPORATION Statement of Cash Flows-Direct Method (Partial) For the Year Ended December 31, 2025 Cash Flows from Operating Activities Cash Received from Customers Cash Payment to Suppliers Cash Payment for Operating Expenses Net Cash Provided by Operating Activities S 130000 i 31000 i 191000 30000 $ 161000
Headland Corporation had the following 2025 income statement. Sales revenue $213,000 Cost of goods sold 109,000 Gross profit 104,000 Operating expenses (includes depreciation of $19,000) 53,000 Net income $51,000 The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2025 statement of cash flows using the direct method. HEADLAND CORPORATION Statement of Cash Flows-Direct Method (Partial) $ $
Transcribed Image Text:Headland Corporation had the following 2025 income statement. Sales revenue $213,000 Cost of goods sold 109,000 Gross profit 104,000 Operating expenses (includes depreciation of $19,000) 53,000 Net income $51,000 The following accounts increased during 2025: Accounts Receivable $12,000, Inventory $12,000, and Accounts Payable $13,000. Prepare the cash flows from operating activities section of Headland's 2025 statement of cash flows using the direct method. HEADLAND CORPORATION Statement of Cash Flows-Direct Method (Partial) $ $
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