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Intermediate accounting

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BIOCADO x Question completion Status The following comparative statement of financial position for Dubai Co. is given for the financial periods 2015 2016 2020 2019 PPE 5410,000 5395,000 Accumulated depreciation of PPE (1 70.000) (155.000) Copyrights 45.000 38.000 Receivables 22,000 12.000 Inventory 65,000 72.000 Prepaid expenses 70.000 $2.000 Cash 72.000 Z10002 56.34.000 S505.000 Capital preferred shares Premium on preferred shares Common stock Retained earnings Bond payable Accounts payable Accrued liabilities 23.000 160.000 56,000 34,000 S42,000 150,000 96,000 45,000 57,000 65,000 179.000 S634.000 45.000 187.000 S505.000 The income statement for 2020 is as follows: Net sales $850,000 Cost of goods sold 582.000 Gross profit 268.000 Operating expenses 170,000 Net income $98,000 Question completo The income statement for 2020 is as follows: Net sales 550.000 Cost of goods sold 582.000 Gross profit 268.000 Operating expenses 170,000 Net income 598.000 Required: Compute the following using the Direct Method (Show your calculations). 1. How much is the cash received from customers? 2. How much is the cash paid to suppliers? 3. How much is the operating expenses paid? For the toolbar, press ALT F10 (PC) or ALT-EN-F10 (Mac). BI Paragraph Arial 10pt V - ili > 2

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