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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Use the following excerpts from Fromera Company's financial information to prepare the
operating section of the statement of cash flows (direct method) for the year 2018.
Sales
Cost of Goods Sold
Operating Expenses, other than depreciation expense
Depreciation Expense
Gain on Sale of Plant Assets
Net Income
Accounts Receivable (associated with Sales)
Inventory (associated with Inventory)
Accounts Payable (associated with Inventory)
Accrued Liabilities (associated with Other Expense)
Accounts Receivable (associated with Sales)
Inventory (associated with Inventory)
Accounts Payable (associated with Inventory)
Accrued Liabilities (associated with Other Expense)
Edit View Insert Format Tools Table
2018 Income
Statement
$ 299,000
(135,000)
(27,000)
(17,000)
16,500
136,500
Balance
Sheets
Dec. 31, 2018
$45,300
1,600
22,500
900
Dec. 31, 2017
$43,400
1,800
21,250
1,150
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