Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. pronghorn company income statement for the year en

Pronghorn Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,770,000 Cost...

90.2K

Verified Solution

Question

Accounting

image
image
image
image
Pronghorn Company Income Statement For the Year Ended December 31, 2025 Sales revenue $6,770,000 Cost of goods sold Beginning inventory $1,750,000 \begin{tabular}{lr} Purchases & 4,830,000 \\ \cline { 2 - 2 } Goods available for sale & 6,580,000 \end{tabular} Ending inventory 1,450,000 \begin{tabular}{lr} Cost of goods sold & 5,130,000 \\ \hline Gross profit & 1,640,000 \end{tabular} Operating expenses Selling expenses 440,000 Additional information: 1. Accounts receivable decreased $290,000 during the year. 2. Prepaid expenses increased $170,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $300,000 during the year. 4. Accrued expenses payable decreased $140,000 during the year. 5. Administrative expenses include depreciation expense of $70,000. Prepare the operating activities section of the statement of cash flows for the year ended December 31,2025 , for Pronghorn Company, using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. 15,000 or in parenthesis eg. (15,000).) (6) $ Sivetor Later Attempts: 0 of 2 used Submit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students