Using the information below, what is the net cash flow for Fox's 2020 SCFs Operating activities?
2020 Sales: $900,000
CGS: $350,000
Income Stmt BS Assets
Cash: ($350,000)
Accts Rec: $550,000
AFS Secs: ($240,000)
Inventory: $5,000
Prepaid Rent: $22,000
12/31/20 $22,000
12/31/19 $4,000
BS Liabs & SE
12/31/20 $12,000
12/31/19 $80,000
Accts Payable: $12,000
Taxes Payable: $8,000
Divs Payable: $16,000
Gross Profit: $70,000
Op. Exp: $36,000
Gain-Equip.: $16,000
Wages Payable: $20,000
Interest Payable: $2,000
Interest Rev: $3,000
Land: $230,000
Equipment: $180,000
Accum Depr: ($50,000)
Notes Payable: $120,000
Interest Exp: ($6,000)
Common Stock: $312,000
Pre-Tax NI: $200,000
Additional PIC: $147,000
Inc. Tax Exp: ($80,000)
Patents: $94,000
Retained Earnings: $410,000
Totals: $760,000
Notes:
1) The only long-term asset sold in 2020 is Equipment with a $60,000 cost & 60% depreciated when sold.
2) All Depreciation & Amortization Expenses are included in Operating Expense (Op.Exp).
