From the income statement accounts below, a. produce the income statement for th

Question

From the income statement accounts below,

a. produce the income statement for the year.

b. produce the operating cash flow for the year.

Income Statement Accounts for the Year Ending 2007

Cost of Goods Sold

$1,420,000

Interest Expense

$ 218,000

Taxes

$ 318,000

Revenue

$2,984,000

SG&A Expenses

$ 450,000

Depreciation

$ 250,000

Income Statement Accounts for the Year Ending 2007

Cost of Goods Sold

$1,420,000

Interest Expense

$ 218,000

Taxes

$ 318,000

Revenue

$2,984,000

SG&A Expenses

$ 450,000

Depreciation

$ 250,000

Explanation / Answer

Hi,

Please find the answer as follows:

Cash Flow from Operating Activities = Net Income + Depreciation = 328000 + 250000 = 578000

Thanks.

Income Statement Revenue 29,84,000 COGS 14,20,000 Gross Profit 15,64,000 SG&A Expenses 4,50,000 Depreciation 2,50,000 EBIT 8,64,000 Interest 2,18,000 EBT 6,46,000 Tax 3,18,000 Net Income 3,28,000

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