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Operating expenses other than depreciation for the year were $400,000. Prepaid expenses increased by $17,000 and accrued expenses decreased by $30,000 during the year. Cash payments for operating expenses to be reported on the cash flow statement using the direct method would be :
a. $353,000
b. $413,000
c. $447,000
d. $383,000
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The Butterfly Corporation had the following information that pertained to its March budget.
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Rollie Company is launching a new cleaning product for ceramic vases. The company invests $1,200,000 in operating assets, such as production equipment,and plans to produce and sell 400,000 units per year. Rollie wants to make a return on investmen..
Assume that the company produces and sells 45,000 units during the year at a selling price of $16 per unit. Prepare a contribution format Income Statement for the year.
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