Solution-Income statement of zamora inc

Income statement of zamora inc

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Reference no: EM13526611

The income statement of Zamora Inc. reported the following condensed information.

ZAMORA INC. Income Statement For the Year Ended December 31, 2012
Revenues	$560,000
Operating expenses	400,000
Income from operations	160,000
Income tax expense	47,000
Net income	$113,000

Zamora"s balance sheet contained these comparative data at December 31.

	2012	2011
Accounts receivable	$60,000	$75,000
Accounts payable	35,000	48,000
Income taxes payable	14,000	6,000

Zamora has no depreciable assets. Accounts payable pertain to operating expenses.

Instructions

Prepare the operating activities section of the statement of cash flows using the indirect method.

Reference no: EM13526611

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Income statement of zamora inc

Reference no: EM13526611

Reference no: EM13526611

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