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Prepare the cash flows from operating activities

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Question - Brite Corp. has the following 2016 Income Statement: Sales Revenue-$212,290, Cost of goods Sold- $119,990, Gross Profit $92,300, Operating Expenses lincluding depreciation of $22,640)- $52,910, Net income-$39,390. The following accounts increased during 2016, A/R-$15,160, Inventory-$10,100, A/P-$11,770.

a) Prepare the cash flows from operating activities using the direct method.

b) Prepare the cash flows from operating activities using indirect method.

Reference no: EM132429702

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