USA Cash Flow Statement Problem


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Cash Flow Statement Problem





Income Statement



Service Revewnue 920,000

Operating Expense 710,000

Income before Taxes 210,000

Income Tax Expense 52,500

Net Income 157,500





Balance Sheet 12/31/21 12/31/20



Cash 315,000 71,000

Accounts Receivable 122,000 101,000

Accrued Liabilities 72,000 61,000

Income Tax Payable 11,000 17,000







  • Common stock issued 102,000
  • LT Invest 51,000 sold, orig cost 51,000
  • 81,000 dividends paid
  • Operating expense includes 31,000 depreciation expense




My problem is determining operating expense paid which I believe should be done by A/P T-account; And determining Income Tax paid which I believe should be straight forward (6000) to 52,500.
 
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kirby

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Contemplate the depreciation expense. Was it paid for in cash?
 

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