e | https:/ledugen.wileyplus.com/edugen/student/mainfr.uni Problem 12-3A The inc

Question

e | https:/ledugen.wileyplus.com/edugen/student/mainfr.uni Problem 12-3A The income statement of Carla Vista Co. is presented here. Carla Vista Co Income Statement For the Year Ended November 30, 2017 $7,591,200 Sales revenue Cost of goods sold Beginning inventory Purchases Goods available for sale Ending inventory $1,875,200 4,359,400 6,234,600 1,617,800 Total cost of goods sold Gross profit Operating expenses 4616,800 2,974,400 453,400 703,5001156.900 Selling expenses Administrative expenses $1,817,500 Net income Additional information: 1. Accounts receivable decreased $379,600 during the year, and inventory decreased $257,400. 2. Prepaid expenses increased $148,600 during the year 3. Accounts payable to suppliers of merchandise decreased $346,600 during the year. 4. Accrued expenses payable decreased $99,200 during the year 5. Administrative expenses include depreciation expense of $109,400. s Reserved. A Division of John wley &onsIn;

Explanation / Answer

Cash flows from operating activities: Net income for the year 1817500 Adjustment to reconcile Depreciation expense 109400 Decrease in Accounts receivable 379600 Decrease in Inventory 257400 Increase in prepaid expense -148600 Decrease in Accounts payable -346600 Decrease in Accrued expense -99200 152000 Net cash provided from Operating activities 1969500

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.