The financial statements of Wines, Inc., provide the following information for the current year: Dec.31 ($) Jan.1 ($) Accounts receivable Inventory Prepaid expenses 210,000 180,000 200,000 190,000 14,000 10,000 Accounts payable (for merchandise) 176,000 161,000 Accrued expenses payable Net sales 13,000 19,000 2,900,000 Cost of goods sold 1,500,000 Operating expenses (including depreciation of $40,000) 300,000 Wine's net cash flow from operating activities for the current year is: A. $1,105,000 B. $1,375,000 C. $1,495,000 D. Some other amount

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
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Problem 4SEA: FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement,...
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The financial statements of Wines, Inc., provide the following information for the current year:
Dec.31 ($) Jan.1 ($)
Accounts receivable
Inventory
Prepaid expenses
210,000
180,000
200,000 190,000
14,000 10,000
Accounts payable (for merchandise)
176,000 161,000
Accrued expenses payable
Net sales
13,000
19,000
2,900,000
Cost of goods sold
1,500,000
Operating expenses (including depreciation of $40,000) 300,000
Wine's net cash flow from operating activities for the current year is:
A. $1,105,000
B. $1,375,000
C. $1,495,000
D. Some other amount
Transcribed Image Text:The financial statements of Wines, Inc., provide the following information for the current year: Dec.31 ($) Jan.1 ($) Accounts receivable Inventory Prepaid expenses 210,000 180,000 200,000 190,000 14,000 10,000 Accounts payable (for merchandise) 176,000 161,000 Accrued expenses payable Net sales 13,000 19,000 2,900,000 Cost of goods sold 1,500,000 Operating expenses (including depreciation of $40,000) 300,000 Wine's net cash flow from operating activities for the current year is: A. $1,105,000 B. $1,375,000 C. $1,495,000 D. Some other amount
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