Use the income statement and the list of changes to answer the question.Stuart CompanyIncome StatementJanuary 1 to December 31, 2022(amounts in thousands)RevenueCost of Goods Sold (COGS)Gross IncomeSales, General, & Administrative Expenses (SG&A)Depreciation ExpenseOther ExpensesEarnings Before Interest & Taxes (EBIT)InterestPre-Tax IncomeIncome TaxesNet IncomeBetween January 1 and December 31, 2022:1. Accounts Receivable decrease by $300,0002. Accounts Payable decrease by $900,0003. Gross Property, Plant, & Equipment increase by $7,500,0004. Long Term Debt decreases by $600,000Assume no other changesWhat is the Net Cash Flow?8,8002,6406,1608809005003,8801103,7701,5082,262Note: Account change amounts are provided in dollars but the financial statement units are thousands of dollars.Please specify your answer in the same units as the financial statements (i.e., enter the number from yourcompleted statement of cash flows).

Given in the question:Net Income = $2,262,000Depreciation during the year 2022 = $900,000The net…

Answered: What is the Net Cash Flow?

Business

Accounting

What is the Net Cash Flow?

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 7P: Complex Income Statement The following items were derived from Woodbine Circle Corporations adjusted...

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