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1. Sales reported on the income statement were $58,400. The accounts receivable balance decreased $2,100 over the year. Determine the amount of cash received from customers.
2. Cost of merchandise sold reported on the income statement was $568,000. The accounts payable balance decreased $28,000, and the inventory balance decreased by $39,000 over the year. Determine the amount of cash paid for merchandise.
3. Cost of merchandise sold reported on the income statement was $111,000. The accounts payable balance increased $5,700, and the inventory balance increased by $8,400 over the year. Determine the amount of cash paid for merchandise.
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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