Can someone help with this? The income statement of Frank Company i shown belaws
ID: 2532837 • Letter: C
Question
Can someone help with this?
The income statement of Frank Company i shown belaws FRANK COMPANY For the Year Ended December 31, 2017 Sales Cost of goods sold Gross proft Oparating expane 58.400.000 5,400,000 3.000.000 Seling expenses Administrative expense Depraciation expansa Amortization expense 700.000 30,000 1.320,000 Net income $1,680,000 1 Accounts receivable incressed $400,000 during the year 2. Inventory increased $250,000 during the year 3. Propaid expanscs increasad $200,000 during the year. 4. Accounts payable to merchandise suppliers increased $100,000 during the year 5. Accrued expenses payable increased $160.000 during the year re the operating activ es section of the state ent of cash flow; or the year ended Dece er 31, 2017 for Frank Company us ng the d rect method. Show amounts that decrease cash ow with either ?-sign eg. 15,000 or 1n pare thes s e g (15,0 Statement of Cash Flows For the Year Ended December 31, 2017Explanation / Answer
Cash flow from operating activities :
Cash flow from operating activities Cash received from customer (8400000-400000) 8000000 Cash payment Cash paid to supplier (5400000+250000-100000) -5550000 Cash paid for Operating expense (1200000+200000-160000) -1240000 -6790000 Net cash flow from operating activities 1210000