The Flying Lion Corporation reported the following data on the income statement of one of its…


Question Description:

20

The Flying Lion Corporation reported the following data on the income statement of one of its… 1 answer below ยป The Flying Lion Corporation reported the following data on the income statement of one of its divisions. Flying Lion Corporation has other profitable divisions. 20X2 20X1 Net sales $800,000 $500,000 Cost of goods sold 560,000 320,000 Operating expenses 75,000 56,000 Depreciation 300,000 200,000 Tax rate (%) 30 30 a. Prepare an income statement for each year. b. Determine the operating cash flow during each year. Jul 08 2014 12:35 PM

Answer

20