During 2014, Wimbrow Images Reported $60,000 of Net Income and Generated

question 57

Essay

During 2014, Wimbrow Images reported $60,000 of net income and generated $80,000 of cash from operations.
During the year, Wimbrow Images paid $15,000 to purchase a new delivery truck and also paid dividends in the amount of $30,000. Wimbrow Images borrowed $40,000 cash from the bank. At the beginning of the year, cash amounted to $50,000.
A Prepare a statement of cash flows for the year ended December 31, 2014.
B How much more cash does Wimbrow Images have available at the end of the year than at the beginning?
C Why is there a difference between net income and cash flows from operations?

Assess the effects of advancements in U.S. health care on the standard of living.

Recognize factors that could reduce health care overconsumption.

Describe the major funding sources for health care and their relative contributions.

Explain factors contributing to the price inelasticity of health care demand.

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Definitions:

Income Rises

An increase in the amount of money received from work, business, investments, or other sources.

More To Less

A principle or process that involves moving from a greater quantity or quality to a lesser one.

Price Falls

A decrease in the market price of goods or services, often due to increased supply or reduced demand.

Commodity Bundles

A set of goods or services that are considered together, often for purposes of comparison or purchase.