The net income for Splish Brothers Inc. for 2022 was $250,000. For 2022, depreciation on plant...
The net income for Splish Brothers Inc. for 2022 was $250,000. For 2022, depreciation on plant assets was $62,500, and the company incurred a loss on disposal of plant assets of $25,000. Compute net cash provided by operating activities under the indirect method, assuming there were no other changes in the company’s accounts.
Homework Answers
Calculation of net cash provided by operating activities:
Net income for the year =$250,000
Add: Depreciation charges during the year(non-cash) =62,500
Add: Loss on disposal of plant(investing activity) =$25,000
Net cash provided by operating activities =$337,500
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The net income for Splish Brothers Inc. for 2022 was $250,000.
For 2022, depreciation on plant...
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Condensed financial data of Splish Brothers Inc. follow.
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