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You are given the following financial statement extracts of Morgan trading ltd.
Statement of comprehensive income for the year ended 30 June 2014
Sales
$156,900
Cost of sales
$75,800
Gross profit
$81,100
Depreciation expense
$8,500
Interest expense
$3,400
Other expenses
$27,800
$39,700
Net profit before tax
$41,400
Income tax expense
$12,420
Net profit after tax
$28,980
Statement of financial position extract as at 30 June 2013 and 2014
Yr 2013
Yr 2014
Current assets
Prepaid expenses (other)
$450
$780
Accounts receivable
$8,760
$7,990
Inventory
$17,630
$21,750
Current Liabilities
Accounts payable
$14,770
$12,980
Accrued interest
$950
$730
Income tax payable
$9,800
REQIRED:
Using the indirect method, compute the following cash flow amounts for Morgan trading ltd. for the year ended 30th June 2014.
A. Cash receipts from customers
B. Cash paid to suppliers and employees
C. Interest paid
D. Income tax paid
E. Net cash provided by operating activities
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