Zowine Company’s condensed income statement for the year ended December 31, 20-2, was as follows: Net sales …………. $765,000Cost of goods sold ……… 550,000Gross profit ……….. $215,000Operating expenses …….. 30,000Income before taxes ……. $185,000Income tax expense …….. 65,000Net income ………… $120,000Additional information obtained from Zowine’s comparative balance sheets as of December 31, 20-2 and 20-1, was as follows: Required Prepare a partial statement of cash flows reporting cash provided by operating activities for the year ended December 31,20-2.
View Solution:
Zowine Company s condensed income statement for the year ended December



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *