18 Exercise 16-20B (Algo) Direct: Cash flows from operating activities LO P5 19 The following income statement and additional year-end information is provided. SONAD COMPANY Income Staterent - For Year Ended December 31 Sales Cost of goods sold Gross profit Operating expenses Salaries expense Depreciation expense Rent expense Amortization expenses-Patents Utilities expense $ 342,226 $ 2,498,000 1,224,020 1,273,980 59,952 67,446 7,494 27,478 584,596 Gain on sale of equipment Net income 769,384 9,992 $779,376 Accounts receivable $ 43,850 increase Accounts payable Inventory 14,975 increase Salaries payable $ 13,925 decrease 1,500 decrease Prepare the operating activities section of the statement of cash flows using the direct method. Note: Amounts to be deducted should be indicated with a minus sign. Answer is not complete. Statement of Cash Flows (Partial) Cash flows from operating activities Payments for inventory Payments for rent Payments for salaries Receipts from customers $ 0

Exercise 21-24 (Static) Cash flows from operating activities (indirect method) [LO21-4] Portions of the financial statements for Myriad Products are provided below: MYRIAD PRODUCTS COMPANY Income Statement For the Year Ended December 31, 2024 ($ in millions) Sales   $ 660 Cost of goods sold   250 Gross margin   410 Salaries expense $ 110   Depreciation expense 90   Amortization expense 5   Interest expense 20   Loss on sale of land 3 228 Income before taxes   182 Income tax expense   91 Net Income   $ 91 MYRIAD PRODUCTS COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2024 and 2023 ($ in millions)   Year Change 2024 2023 Cash $ 102 $ 100 $ 2 Accounts receivable 220 232 (12) Inventory 440 450 (10) Accounts payable 140 134 6 Salaries payable 80 86 (6) Interest payable 25 20 5 Income tax payable 15 10 5 Required: Prepare the cash flows from the operating activities section of the statement of cash flows…

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Question 13 The extract disclosed below relates to JohNicho Limited for the year ended December 31, 2021 JohNicho Limited Statement of Comprehensive Income for the year ended 31st December: Net Sales Cost of goods sold SG&A Other costs Operating Income (EBIT) Interest Extraordinary income EBT Taxes Net Income Non-current assets Property, Plant & Equipment Motor vehicles Furniture Total non-current assets Current assets Trade Receivables Other Current Assets Inventories Total Current Assets Total assets Current liabilities Accounts payable Other current liabilities Total Current Liabilities JohLex Limited Statement of Financial Position as at 31st December: 2020 GHC Long-term Debt Debenture Total non-current liabilities 10 Shareholders' equity Total Liabilities and Equity GHC 6,386 18,472 6,759 8,461 25,265 19,811 20,753 Required to calculate: (a) Inventory turnover period (in days) (b) Receivable collection period (in days) (c) Payable collection period (in days) (d) Working capital…

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Exercise 13-2 Net Cash Provided by Operating Activities [LO13-2] For the just completed year, Hanna Company had net income of $55,500. Balances in the company’s current asset and current liability accounts at the beginning and end of the year were as follows:     December 31   End of Year Beginning of Year Current assets:         Cash and cash equivalents $ 64,000 $ 78,000 Accounts receivable $ 158,000 $ 184,000 Inventory $ 445,000 $ 367,000 Prepaid expenses $ 12,000 $ 13,000 Current liabilities:         Accounts payable $ 350,000 $ 380,000 Accrued liabilities $ 7,500 $ 12,000 Income taxes payable $ 36,000 $ 25,000     The Accumulated Depreciation account had total credits of $52,000 during the year. Hanna Company did not record any gains or losses during the year.   Required: Using the indirect method, determine the net cash provided by operating activities for the year. (List any deduction in cash and cash outflows as negative amounts.)