Sturdy Construction Co. had the following financial data extracts for the recently completed operating year: Net sales $145,000,000 70,000,000 48,000,000 6,000,000 25,200,000 (12,000,000) 2,000,000 15,000,000 Gross profit Operating income Interest expense Net income Decrease in inventory Increase in (bank) interest payable Increase in accounts payable What is the amount of cash paid to suppliers recognized under the direct method when calculating operating cash flow?

Sturdy Construction Co. had the following financial data extracts for the recently completed operating year: Net sales $145,000,000 70,000,000 48,000,000 6,000,000 25,200,000 (12,000,000) 2,000,000 15,000,000 Gross profit Operating income Interest expense Net income Decrease in inventory Increase in (bank) interest payable Increase in accounts payable What is the amount of cash paid to suppliers recognized under the direct method when calculating operating cash flow?

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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