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Category > Accounting Posted 11 Jul 2017 My Price 4.00

Statement of Cash Flows: Direct Method

P2. Statement of Cash Flows: Direct Method

Flanders Corporation’s 2014 income statement and comparative balance sheet as of June 30, 2014 and 2013  follow.

 

Flanders Corporation Income Statement

Sales			$2,081,800 Cost of goods sold			1,312,600 Gross margin			$    769,200 Operating expenses (including depreciation expense of $120,000)			378,400 Income from operations			$    390,800 Other income (expenses):			 Loss on disposal of equipment	$  8,000		 Interest expense	75,200		83,200 Income before income taxes			$    307,600 Income taxes			 	68,400 Net income			$    239,200  For the Year Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

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Status NEW Posted 11 Jul 2017 10:07 PM My Price 4.00

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