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Determine the amount of net income

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Question - Castile Inc. had a beginning balance of $4,000 in its Accounts Receivable account. The ending balance of Accounts Receivable was $4,500. During the period, Castile recognized $68,000 of revenue on account. Castile's Salaries Payable account has a beginning balance of $2,600 and an ending balance of $1,500. During the period, the company recognized $46,000 of accrued salary expense.

Required -

A. Based on the information provided, determine the amount of net income.

B. Based on the information provided, determine the amount of net cash flow from operating activities.

Reference no: EM132476491

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