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Business, 27.08.2020 18:01 misrachel03

MOSS COMPANYSelected Balance Sheet InformationDecember 31, 2017 and 2016 2017 2016Current assets Cash $91,150 $33,300Accounts receivable 31,500 45,000Inventory 66,500 55,400Current liabilities Accounts payable 43,400 32,200Income taxes payable 2,700 3,500 MOSS COMPANYIncome StatementFor Year Ended December 31, 2017Sales $549,000Cost of goods sold 357,600Gross profit 191,400Operating expenses Depreciation expense $49,000 Other expenses 128,500 177,500Income before taxes 13,900Income taxes expense 8,100Net income $ 5,800 Use the information above to calculate this company’s cash flows from operating activities using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)

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MOSS COMPANYSelected Balance Sheet InformationDecember 31, 2017 and 2016 2017 2016Current assets Cas...
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