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Compute service revenue and operating expenses

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Kelly SpA had cash receipts from customers in 2022 of €192,000. Cash payments for operating expenses were €97,000. Cash paid for Inventory was €115,000.

Kelly has determined the following information:

                                                 January 1               December 31

Accounts receivable was         €13,000,                 €18,600
Prepaid expenses were             €17,500.               € 23,200
Inventory                             €180,000.              € 87,200
Acc Payable                         € 128,500.               € 66,400

Problem 1: Compute (a) service revenue and (b) operating expenses and (c). COGS- cost of goods sold.

Reference no: EM132654254

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