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5. Selected balance sheet information and the income statement for Fountainhead Corporation for the ourrent...

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Accounting

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5. Selected balance sheet information and the income statement for Fountainhead Corporation for the ourrent ye are presented below Selected Balance Sheet Accounts Prior Year Current Year Receivable 15,700 $10,500 21,000 23,100 Merchandise Inventory Prepaid Rent Accounts Payable 1,100 11,600 14,800 Salaries and Wages Payable 2.200 300 Income Statement Sales Revenue Expenses 315,000 Cost of Goods Sold Depreciation Expense Salaries Expense Rent Expense Insurance Expense Interest Expense Utlities Expense 183.000 21,000 31,500 2.600 12.800 11,550 10.500 Net Income 5 27.250 Required: Prepare the cash fiows from operating sctivities section of the statemant of cash ows using the indirect method. (Enter any deductions and cash outflows as a negative value) Cash Flows from Operating Activities nts to recondile ne income to ner cash provided by Changes in curmens assers and cumen labilities

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