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Sales CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 332,400 213,900 118,500 60,700 25,600 32,200 11,800 $ 20,400 Required: Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. ☑ Open Excel in new tab Activate

Sales CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 332,400 213,900 118,500 60,700 25,600 32,200 11,800 $ 20,400 Required: Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. ☑ Open Excel in new tab Activate

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 16E
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Sales CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 332,400 213,900 118,500 60,700 25,600 32,200 11,800 $ 20,400 Required: Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. ☑ Open Excel in new tab Activate
Transcribed Image Text:Sales CRUZ, INCORPORATED Income Statement For Year Ended December 31, 2021 Cost of goods sold Gross profit Operating expenses (excluding depreciation) Depreciation expense Income before taxes Income taxes expense Net income $ 332,400 213,900 118,500 60,700 25,600 32,200 11,800 $ 20,400 Required: Use the indirect method to prepare the operating activities section of Cruz's statement of cash flows. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect. ☑ Open Excel in new tab Activate
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