Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021 and 3000 in 2020, and if accounts payables balances are 14000 in 2021 and 2000 in 2020. Which of the following is cash payment for COGS (cash inputs)? Sales 75,000 -COGS 55,000 Gross Profit 20,000 -Operating 8,000 Expenses Operating Profit -Interest Expense 12,000 2,000 Profit before Tax 10,000 -Tax 3,000 Net Profit 7,000 Select one: O a. 73000 O b. 60000 c. 69000 O d. 50000

Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021 and 3000 in 2020, and if accounts payables balances are 14000 in 2021 and 2000 in 2020. Which of the following is cash payment for COGS (cash inputs)? Sales 75,000 -COGS 55,000 Gross Profit 20,000 -Operating 8,000 Expenses Operating Profit -Interest Expense 12,000 2,000 Profit before Tax 10,000 -Tax 3,000 Net Profit 7,000 Select one: O a. 73000 O b. 60000 c. 69000 O d. 50000

Name: Power Company's income statement for 2021 is given below. If inventor
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Description: Power Company's income statement for 2021 is given below. If inventory balances are 10000 in 2021 and 3000in 2020, and if accounts payables balances are 14000 in 2021 and 2000 in 2020. Which of the following is cashpayment for COGS (cash inputs)?Sal

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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