Gail's Greenhouse,Inc. ,a small retail store that sells houseplants,started business on January 1,2019.At the end of January 2019,the following information was available:
Expenses during January incurred,and paid for,during January unless otherwise noted:
A.Using the above information,prepare the income statement for Gail's Greenhouse for the month ended January 31,2019.
B.What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?

Question

Gail's Greenhouse,Inc. ,a small retail store that sells houseplants,started business on January 1,2019.At the end of January 2019,the following information was available:

Expenses during January incurred,and paid for,during January unless otherwise noted:

A.Using the above information,prepare the income statement for Gail's Greenhouse for the month ended January 31,2019.
B.What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?

Talasila Bharat Chowdary · Accepted Answer

Final Answer : A.  B.$38,300 - 15,000 + 1,000 = $24,300;or,alternatively,$75,000 - 45,000 - 5,000 - 250 - 150 - 300 = $24,300

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