Please help me to solve this problem Determining Operating Cash Flows-Direct MethodTaser Corporation's recent comparative balance sheet and income statement follow.Balance Sheets, December 312020AssetsCash and cash equivalentsAccounts receivable (net)Merchandise inventoryInvestments, long-termPlant assetsAccumulated depreciationTotal assetsLiabilities and Stockholders' EquityAccounts payableSalaries payableIncome taxes payable$25,200 $22,8001,8006002,4004,200Bonds payable120,000 120,000Premium on bonds payable4,8004,440Common stock, no-par144,000 186,600Retained earnings9,00030,240Total liabilities and stockholders' equity $307,200 $368,880Income Statement,For Year Ended December 31 2020Sales revenue$144,000Cost of goods soldDepreciation expenseSalaries expenseIncome tax expenseInterest expenseOther expensesGain on sale of plant assetsNet income$23,400 $38,28040,800 40,80093,600 102,00012,000202,200 216,000(52,800) (40,800)$307,200 $368,880Additional information(57,600)(7,200)2019(26,400)(12,000)(8,400)(2,760)3,600$33,240 Additional information1. Purchased a plant asset, $36,000; issued capital stock in full payment.2. Purchased a long-term investment in equity securities for cash, $12,000.3. Declared and paid cash dividend, $12,000.4. Sold a plant asset for $6,000 cash (cost, $21,600; accumulated depreciation, $19,200).5. Sold capital stock, 600 shares at $11 per share cash.Prepare the operating activities section of the statement of cash flows, using the direct method.Note: Use negative signs with amounts for cash outflows.Cash Flows from Operating ActivitiesCollections from customersPayments to suppliersPayments for salariesPayments for income taxesPayments for interestOther expensesNet cash provided (used) by operating activities $$0000000

Lets understand the basics. Cashflow statement shows cash inflow and outflow occur during the period…

Taser Corporation's recent comparative balance sheet and income statement follow. Balance Sheets, December 31 2020 Assets Cash and cash equivalents Accounts receivable (net) Merchandise inventory Investments, long-term Plant assets Accumulated depreciation 2019 $23,400 $38,280 40,800 40,800 93,600 102,000 12,000 202,200 216,000 (52 900) (40 800)

Taser Corporation's recent comparative balance sheet and income statement follow. Balance Sheets, December 31 2020 Assets Cash and cash equivalents Accounts receivable (net) Merchandise inventory Investments, long-term Plant assets Accumulated depreciation 2019 $23,400 $38,280 40,800 40,800 93,600 102,000 12,000 202,200 216,000 (52 900) (40 800)

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 10E

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