Use the following information from Chocolate Company's financial statements: Income Balance Statement Sheet Sales $104,700 Cost of Goods Sold (66,000) Salaries Expense (19,000) Depreciation Expense (10,000) Net Income $9,700 Accounts Receivable Increase $2,200 Merchandise Invendory 1,600 Decrease 550 Salaries Payable Increase Determine operating net cash flows (indirect method).

Use the following information from Chocolate Company's financial statements: Income Balance Statement Sheet Sales $104,700 Cost of Goods Sold (66,000) Salaries Expense (19,000) Depreciation Expense (10,000) Net Income $9,700 Accounts Receivable Increase $2,200 Merchandise Invendory 1,600 Decrease 550 Salaries Payable Increase Determine operating net cash flows (indirect method).

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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