Use Aplec Corp's Income Statement and Balance Sheet Information to Calculate

question 72

Essay

Use Aplec Corp's income statement and balance sheet information to calculate the net cash provided by operating activities,using the: (a)Direct Method (b)Indirect Method
Aplec Corp.
Income Statement
For the Year Ended December 31, 2021
$\begin{array}{|l|r|r|}\hline \text { Sales (all on credit) } & & \$ 70,000 \\\hline \text { Cost of goods sold } & & 22,000 \\\hline \text { Gross profit from sales } & & 48,000 \\\hline \text { Depreciation expense } & 1,400 & \\\hline \text { Salaries and wages } & 10,500 \\\hline \text { Rent expense } & 2,200 \\\hline \text { Interest expense } & 680&14,780 \\\hline \text { Operating income } & & 33,220 \\\hline \text { Gain on sale of equipment } & & 4,000 \\\hline \text { Profit } & & 37,220\\\hline\end{array}$ Aplec Corp.
Balance Sheet
December 31,
$\begin{array}{|l|r|r|}\hline & \mathbf{2 0 2 1} & \mathbf{2 0 2 0} \\\hline \text { Cash } & 142,200 & 56,980 \\\hline \text { Accounts receivable } & 4,600 & 1,000 \\\hline \text { Merchandise inventory } & 11,200 & 14,200 \\\hline \text { Long-term investments } & 101,000 & 112,800 \\\hline \text { Equipment } & 254,000 & 200,000 \\\hline \text { Accumulated depreciation, equipment } & 39,756 & 28,356 \\\hline & 473,244 & 356,624 \\\hline\\\hline \text { Accounts payable } &6,000 &6,800 \\\hline \text { Salaries and wages payable } & 1,400 & 1,200 \\\hline \text { Bonds Payable } & 49,000 & 63,000 \\\hline \text { Common shares } & 196,000 & 100,000 \\\hline \text { Retained earnings } & 220,844 & 185,624 \\\hline & 473,244 & 356,624\\\hline\end{array}$

Understand sampling methods in research, including simple random sampling and area sampling.

Distinguish between primary and secondary research, including their characteristics and costs.

Acknowledge the importance of evaluation and analysis of data for it to become meaningful information.

Understand the distinction between primary and secondary research methods and their applications.

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