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Compute the cash flows from operating activities

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Reference no: EM133115712

Question - Power Corporation owns 75 percent of Surge Company's stock: no intercompany purchases or sales were made in 20X4. For the year, Power and Surge reported sales of $330,000 and $200,000 and cost of goods sold of $130,000 and $95,000, respectively. Power's inventory increased by $35,000, but Surge's decreased by $18,000. Power's accounts receivable increased by $22,000 and its accounts payable decreased by $10,000 during 20X4. Surge's accounts receivable decreased by $11,000 and its accounts payable increased by $6,000. Assuming there were no other cash flows from operations, using the direct method of computing cash flows from operating activities. Compute the following:

a Cash received from customers

b. Cash payments to suppliers

c. Cash flows from operating activities

Reference no: EM133115712

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