Which of the following is an example of an expense for this company?
Cash dividends
Cost of sales
Income taxes payable
Interest income
For Callaway Gold 2017 Annual Report
Which of the following is an example of an expense for this company?
| Cash dividends |
| Cost of sales |
| Income taxes payable |
| Interest income For Callaway Gold 2017 Annual Report |
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he following are the financial statements of Nosker Company.
NOSKER COMPANY | ||||||
Assets | 2017 | 2016 | ||||
| Cash | $36,400 | $20,800 | ||||
| Accounts receivable | 32,700 | 19,500 | ||||
| Inventory | 30,700 | 20,900 | ||||
| Equipment | 59,300 | 77,300 | ||||
| Accumulated depreciationâequipment | (29,700 | ) | (23,300 | ) | ||
| Total | $129,400 | $115,200 | ||||
Liabilities and Stockholdersâ Equity | ||||||
| Accounts payable | $28,000 | $ 16,600 | ||||
| Income taxes payable | 7,000 | 8,300 | ||||
| Bonds payable | 27,400 | 32,100 | ||||
| Common stock | 18,200 | 13,700 | ||||
| Retained earnings | 48,800 | 44,500 | ||||
| Total | $129,400 | $115,200 | ||||
NOSKER COMPANY | ||
| Sales revenue | $241,900 | |
| Cost of goods sold | 175,600 | |
| Gross profit | 66,300 | |
| Operating expenses | 24,700 | |
| Income from operations | 41,600 | |
| Interest expense | 2,600 | |
| Income before income taxes | 39,000 | |
| Income tax expense | 8,000 | |
| Net income | $31,000 | |
Additional data:
| 1. | Dividends declared and paid were $26,700. | |
| 2. | During the year equipment was sold for $9,800 cash. Thisequipment cost $18,000 originally and had a book value of $9,800 atthe time of sale. | |
| 3. | All depreciation expense, $14,600, is in the operatingexpenses. | |
| 4. | All sales and purchases are on account. |
Prepare a statement of cash flows using the indirect method.(Show amounts that decrease cash flow with either a -sign e.g. -15,000 or in parenthesis e.g.(15,000)?
Compute free cash flow.
| Free cash flow? |
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