operating activities section direct method rodent world exotic pet shops incorporate 4372498

Operating Activities Section, Direct Method. Rodent World Exotic Pet Shops, Incorporated reported the following comparative balance sheets and income statement for the current year. Prepare the operating activities section of the statement of cash flows using the direct method. Assume accrued expenses relate to selling, general and administrative expenses. Rodent World Exotic Pet Shops Income Statement For the year ended December 31 Sales………………………………………………. $ 80,085 Cost of Goods Sold………………………………. 48,051 Gross Profit……………………………………….. $ 32,034 Selling, General, and Administrative Expenses…… $ 10,700 Depreciation Expense……………………………… 2,400 Total Operating Expenses………………………….. $ 13,100 Income Before Interest and Taxes…………………. $ 18,934 Interest Expense……………………………………. $ (4,000) Interest Revenue…………………………………… 3,400 Income Before Tax………………………………… $ 18,334 Income Tax Expense………………………………. (7,334) Net Income………………………………………… $ 11,000 View Solution:
Operating Activities Section Direct Method Rodent World Exotic Pet Shops

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