Question

Selected balance sheet account balances are:            VIZQUEL COMPANY
           December 31
                            2002 2001
Cash                           $ 200,000       $ 300,000
Accounts Payable                   60,000       80,000
Accounts Receivable                   180,000       140,000
Salaries Payable                       12,000       6,000      
Land                           120,000       140,000  
Merchandise Inventory                   100,000       160,000
Prepaid Rent                      50,000       45,000
Unearned Consulting Revenue               70,000       50,000

Income statement items for the year are:
Sales                           $800,000
Consulting Fees                       $200,000
Cost of Goods Sold                   400,000  
Salary Expense                       90,000
Depreciation Expense                   40,000
Rent Expense                       100,000

7.Cash payments for depreciation during 2002 amounted to:

8.Total cash paid for operating activities amounted to:

9.Cash from operating activities during 2002 is:

10.Net income for Vizquel Company for 2002 is:

Answer 1