Prepare the operating section of the statement of cash flowsThank you for your help the photos has the information and the format they need to do the question Financial Corp.Income StatementFor the Year Ended 12/31/2020REVENUESSales Revenue1,800,000.00Interest Revenue$ 700,000.00EXPENSESLoss on Sale of Equipment50,000.00Cost of Goods SoldSalaries ExpenseDepreciation ExpenseInterest ExpenseIncome Taxes ExpenseNET INCOME$ 900,000.00%24$ 600,000.00S 250,000.00%24700,000.0025,000.00(25,000.00$4Change in Current AssetsAccount NameChangeAmountCashIncrease535,500.00Accounts ReceivableIncrease12,000.00InventoryDecrease2,500.00Changes in Current LiabilitiesAccount NameChangeAmountAccounts PayableDecrease12,500.00Salaries PayableIncrease2,500.00Interest PayableDecrease1,500.00 Operating, IndirectAdjustments for reconciliationCASH FROM OPERATINGАCTIVITIES

Cash Flow from Operating Activity Particulars $ Net Income (25,000.00) Add Non-Cash Expenses:…

Answered: Prepare the operating section of the…

Prepare the operating section of the statement of cash flows Thank you for your help the photos has the information and the format they need to do the question

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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abels and Amount Descriptions Instructions Labels Dec. 31, Dec. 31, December 31, 20Y3 20Y3 20Y2 For the Year Ended December 31, 20Y3 Amount Descriptions Assets 3 Cash $625,680.00 $586,230.00 Cash received from sale of investments 228,100.00 208,850.00 4 Accounts receivable (net) 5 Inventories Cash paid for purchase of land Cash paid for purchase of equipment Cash received from issuing common 640,910.00 617,650.00 0.00 240,620.00 6 Investments 7 Land 328,090.00 0,00 stock 704,540.00 553,320.00 8 Equipment 9 Accumulated depreciation-equipment Cash dividends (166,310.00) (147840.00) Decrease in accounts payable Decreașe in accounts receivable Decrease in accrued expenses payable 10 Total assets $2,361,010.00 $2,058,830.00 11 Liabilities and Stockholders' Equity $425,280.00 $404,550.00 52,020.00 12 Accounts payable Decrease in inventories 41,990.00 13 Accrued expenses payable Depreciation 24,190.00 20,170.00 14 Dividends payablie Gain on sale of investments 15 Common stock, $4 par…
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