Hayward Corporation Had Net Sales of $610,000 and Cost of Goods

question 158

Multiple Choice

Hayward Corporation had net sales of $610,000 and cost of goods sold of $360,000 for the just completed year. Shown below are the beginning and ending balances for the year of various accounts: The company prepares its statement of cash flows using the direct method.On its statement of cash flows, what amount should Howard show for its net sales adjusted to a cash basis (i.e., cash received from sales) ?

• A) $616,000
• B) $623,000
• C) $625,000
• D) $595,000

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