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QS 16-6(Algo) Indirect: Computing cash from operations LO P2 Use the information above to...

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Accounting

QS 16-6(Algo) Indirect: Computing cash from operations LO P2
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. QS 16-6(Algo) Indirect: Computing cash from operations LO P2
MOSS COMPANY
Income Statement
For Year Ended December 31,2021
Sales $ 564,000
Cost of goods sold 363,600
Gross profit 200,400
Operating expenses (excluding depreciation)130,000
Depreciation expense 52,000
Income before taxes 18,400
Income taxes expense 10,300
Net income $ 8,100
MOSS COMPANY
Selected Balance Sheet Information
At December 3120212020
Current assets
Cash $ 92,650 $ 34,800
Accounts receivable 33,00048,000
Inventory 68,00055,700
Current liabilities
Accounts payable 46,40033,700
Income taxes payable 2,8503,800
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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