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The following accounts and corresponding balances were drawn from Pixi Company's 2014 and 2013 year-end balance sheets:
Income Statement:
Sales .............. $650,000Salary expense ........... (420,000)Other operating expenses ...... (110,000)Operating income ......... 120,000Non operating items: Interest revenue ... 15,000Net income ........... $135,000Required:
a. Use the direct method to compute the amount of cash inflows from operating activities.
b. Use the direct method to compute the amount of cash outflows from operating activities.
The company's balance sheets and income statement follow.
the rothmueller museum answer the required questions at the end of page 2.nbsp use the below to assist you in
Callaham Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume.
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Spiele Inc. manufactures and sells various software packages - Games, Business Applications and Creative Suites. Budget and actual information for the period are presented in the table.
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