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Home / Questions / Sales $554400 Cost of goods sold $360360 Depreciation expense 46200 Other operating ...

Sales $554400 Cost of goods sold $360360 Depreciation expense 46200 Other operating expenses 138,050 544610 Other gains losses Gain on sale of equipment 7920 Income before taxes

Sales

 

$554,400

Cost of goods sold

$360,360

 

Depreciation expense

46,200

 

Other operating expenses

138,050

-544,610

Other gains (losses):

   

Gain on sale of equipment

 

7,920

Income before taxes

 

$17,710

Income tax expense

 

-5,280

Net income

 

$12,430

Assets

2012

2011

   Cash

$71,115

$61,380

   Accounts receivable

23,100

31,900

   Inventory

63,800

57,310

   Equipment

264,000

244,200

Accumulated depreciation

-116,600

-105,600

    Total assets

$305,415

$289,190

     

Liabilities:

   

   Accounts payable

$31,240

$26,070

   Income taxes payable

1,155

1,320

   Total liabilities

$32,395

$27,390

Equity:

   

   Common stock

$116,600

$116,600

   Paid-in Capital in excess of par value

19,800

19,800

   Retained earnings

136,620

125,400

   Total equity

$273,020

$261,800

Total liabilities and equity

$305,415

$289,190

Prepare net cash provided by operations.

Jun 19 2020 View more View Less

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