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MOSS COMPANY Income Statement For Year Ended December 31,2021 Sales $ 550,000...

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Accounting

MOSS COMPANY
Income Statement
For Year Ended December 31,2021
Sales $ 550,000
Cost of goods sold 345,600
Gross profit 204,400
Operating expenses (excluding depreciation)125,500
Depreciation expense 43,000
Income before taxes 35,900
Income taxes expense 12,900
Net income $ 23,000
MOSS COMPANY
Selected Balance Sheet Information
At December 3120212020
Current assets
Cash $ 88,150 $ 30,300
Accounts receivable 28,50039,000
Inventory 63,50054,800
Current liabilities
Accounts payable 37,40029,200
Income taxes payable 2,4002,900
Use the information above to calculate cash flows from operating activities using the indirect method.
Note: Amounts to be deducted should be indicated by a minus sign.

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