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Zumbrunn Company's income statement contained the following condensed information. ZUMBRUNN COMP

Zumbrunn Companys income statement contained the following condensed information. ZUMBRUNN COMPANY Income Statement For the

Zumbrunn Company's income statement contained the following condensed information. ZUMBRUNN COMPANY Income Statement For the Year Ended December 31, 2020 Service revenue $970,500 Operating expenses, excluding depreciation $623.400 Depreciation expense 54,500 Loss on disposal of plant assets 25 300 703.200 Income before income taxes 267.300 Income tax expense 39.600 $227,700 Net income Zumbrunn's balance sheets contained the comparative data December 31, shown below. 2019 2020 Accounts receivable $75,100 $60,800 Accounts payable 40,600 27,200 Income taxes payable 10.900 7,700 Accounts payable pertain to operating expenses. rin parenthesis e.q. (15.000).) Prepare the operating activities section of the statement of cash flows using the direct method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 Partial Statement of Cash Fio For the Year Ended December 31, 2020 Cash Flows from Operating Activities For Income Taxes 225400 TLess cash payments: For Operating Expenses 677900 Cash Receipts from Customers 25300 Net Cash Provided by Operating Activities

Apr 03 2020 Read more Less More

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