(Answered)-Please look at the Images for the questions! 9. Portions of the - (2025 Updated Original AI-Free Solution
Question
Please look at the Images for the questions!
9. ? ? ?
| Portions of the financial statements for Software Associates are provided below. |
| SOFTWARE ASSOCIATES Income Statement For the year ended December 31, 2015 | |||
| ??Net sales | ? | $ | 660,000 ? |
| ??Expenses: | ? | ? | ? |
| ???????Cost of goods sold | $395,000 ? | ? | ? |
| ???????Operating expenses | 125,000 ? | ? | ? |
| ???????Depreciation expense | 32,500 ? | ? | ? |
| ???????Income tax expense | 46,500 ? | ? | ? |
| ? | ? | ? | |
| ??????????Total expenses | ? | ? | 599,000 ? |
| ? | ? | ||
| ??Net income | ? | $ | 61,000 ? |
| ? | ? | ||
| SOFTWARE ASSOCIATES | |
| Selected Balance Sheet Data | |
| December 31, 2015, compared to December 31, 2014 | |
| ??Decrease in accounts receivable | $9,500 ? |
| ??Decrease in inventory | 12,500 ? |
| ??Increase in prepaid rent | 2,500 ? |
| ??Decrease in salaries payable | 3,500 ? |
| ??Increase in accounts payable | 6,500 ? |
| ??Increase in income tax payable | 7,500 ? |
| Required: |
| Prepare the operating activities section of the statement of cash flows for Software Associates using thedirect?method.?(List cash outflows as negative amounts.) |
| ? |