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Compute the cash paid for operating expenses

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Reference no: EM132583991

Flatland Company has provided the following information taken from its current financial statements to assist you in preparing its statement of cash flows.

Cost of Goods Sold $437700

Decrease in Accounts Payable 7900

Decrease in Accounts Receivable 5000

Decrease in Income Taxes Payable 6300

Depreciation Expense 10500

Increase in Merchandise Inventory 9000

Increase in Prepaid Expenses 6900

Interest Expense 10660

Net Income 161030

Operating Expenses 113100

Sales 807000

Tax Expense 81470

Question 1: For the statement of cash flows, cash from operating activities, direct method, compute the following:

  1. Cash paid for operating expenses: $
  2. Cash received from customers: $

Reference no: EM132583991

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