Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $624.100 Depreciation expense 55,400 Loss on disposal of plant assets 25.200 Income before income taxes Income tax expense Net income $970,400 704,700 265,700 39,100 $226,600 Wildhorse's balance sheets contained the following comparative data at December 31. 2022 2021 Accounts receivable $75,200 $59,800 Accounts payable 40,400 28,900 Income taxes payable 13,000 6,400 Adjustments to reconcile net income to Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with either a sign e.g.-15.000 or in parenthesis e.g. (15,000).) Wildhorse Co. Partial Statement of Cash Flows
Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Service revenue Operating expenses, excluding depreciation $624.100 Depreciation expense 55,400 Loss on disposal of plant assets 25.200 Income before income taxes Income tax expense Net income $970,400 704,700 265,700 39,100 $226,600 Wildhorse's balance sheets contained the following comparative data at December 31. 2022 2021 Accounts receivable $75,200 $59,800 Accounts payable 40,400 28,900 Income taxes payable 13,000 6,400 Adjustments to reconcile net income to Accounts payable pertain to operating expenses. Prepare the operating activities section of the statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with either a sign e.g.-15.000 or in parenthesis e.g. (15,000).) Wildhorse Co. Partial Statement of Cash Flows
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 19BEA
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