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Following are the income statement and other information for Polk Corporation.;Polk Corporation;Income Statement;For the Year Ended December 31, 2010;Sales;$6,000;Cost of...

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Following are the income statement and other information for Polk Corporation.;Polk Corporation;Income Statement;For the Year Ended December 31, 2010;Sales;$6,000;Cost of goods sold;3,000;Gross margin;$3,000;Operating expenses;$1,200;Depreciation expense;600;1,800;Income before income taxes;$1,200;Income taxes expense;300;Net income;$ 900;Accounts receivable (net) decreased by $1,500 during the year. Inventory increased by $900, and Accounts Payable decreased by $1,200 during the year. Income Taxes Payable increased by $300 during the year.;Prepare a schedule of cash flows from operating activities using the indirect method.

 

Paper#74293 | Written in 18-Jul-2015

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