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Question: Bookmarks Blackooard Lualll Leal PARNELL COMPANY Income Statement For the Year Ended December 31,…
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Question: Bookmarks Blackooard Lualll Leal PARNELL COMPANY Income Statement For the <a href=Year Ended December 31,…” />
Question: Bookmarks Blackooard Lualll Leal PARNELL COMPANY Income Statement For the Year Ended December 31,...

Show transcribed image text Bookmarks Blackooard Lualll Leal PARNELL COMPANY Income Statement For the Year Ended December 31, 2016 in 000s) Revenues and gains: $740 Sales 12 $752 Gain on sale of buildings Expenses and loss: $270 Cost of goods sold 114 Salaries 34 Insurance Depreciation 44 Interest expense Loss on sale of machinery 11 590 162 Income before tax 81 income tax expense Net income 81 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2016 and 2015 (S in 000s) Year 2016 2015 Change $128 $106 $22 Accounts receivable 318 222 96 Inventory 327 419 (92) Prepaid insurance 82 (15) Accounts payable 204 123 Salaries payable 114 Deferred income tax liability 72 14 Bond discount 178 206 (28) Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for i Company using the (Enter y thousands (ie., 5,000 shoe entered as 5). Announts to be deducted should be indicated with a minus sign.)

Bookmarks Blackooard Lualll Leal PARNELL COMPANY Income Statement For the Year Ended December 31, 2016 in 000s) Revenues and gains: $740 Sales 12 $752 Gain on sale of buildings Expenses and loss: $270 Cost of goods sold 114 Salaries 34 Insurance Depreciation 44 Interest expense Loss on sale of machinery 11 590 162 Income before tax 81 income tax expense Net income 81 PARNELL COMPANY Selected Accounts from Comparative Balance Sheets December 31, 2016 and 2015 (S in 000s) Year 2016 2015 Change $128 $106 $22 Accounts receivable 318 222 96 Inventory 327 419 (92) Prepaid insurance 82 (15) Accounts payable 204 123 Salaries payable 114 Deferred income tax liability 72 14 Bond discount 178 206 (28) Required: 1. Prepare the cash flows from operating activities section of the statement of cash flows for i Company using the (Enter y thousands (ie., 5,000 shoe entered as 5). Announts to be deducted should be indicated with a minus sign.)

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