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  3. carla company's income statement for the year ende

Carla Company's income statement for the year ended December 31, 2020, contained the following condensed...

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Accounting

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Carla Company's income statement for the year ended December 31, 2020, contained the following condensed information Service revenue $848,000 Operating expenses (excluding depreciation) $618,000 Depreciation expense Loss on sale of equipment 702,000 Income before income taxes 40,000 59.000 25.000 146,000 Income tax expense Net income $106,000 Carla's balance sheet contained the following comparative data at December 31 Accounts receivable Accounts payable Income taxes payable 2020 2019 $39,000 $57.000 39,000 32,000 4.200 8.900 Accounts payable pertains to operating expenses) Prepare the operating activities section of the statement of cash flows using the direct method. CARLA COMPANY Statement of Cash Flows (Partial) For the Year Ended December 31, 2020 Cash Flows from Operating Activities Cash Receipts from Customers 887000 Cash Payments for Operating Expenses : 579000 Interest Paid 44200 623200 Net Cash Provided by Operating Activities 2631100

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