Calculate the net increase in cash for the year

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Question 1 - Mast Company reports net income of $355,000 for the year ended December 31. It also reports $119,700 depreciation expense and a $13,000 loss on the sale of equipment. Its comparative balance sheet reveals a $52,200 increase in accounts receivable, a $13,200 decrease in prepaid expenses, a $20,200 increase in accounts payable, and a $16,500 decrease in wages payable. Calculate the net increase in cash for the year.

Question 2 - Zhang Industries sells a product for $780. Unit sales for May were 600 and each month's sales are expected to exceed the prior month's results by 4%. Compute the total budgeted sales dollars for the month ended June 30.

Reference no: EM133160038

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