PREPARE AN INCOME STATEMENT FOR WAGGONER FOR THE YEAR (DECEMBER 31...

2. - TEST BANK FOR FINANCIAL REPORTING FINANCIAL STATEMENT ANALYSIS AND VALUATION A STRATEGIC PERSPECTIVE 7TH EDITION BY WAHLEN
TEST BANK FOR FINANCIAL REPORTING FINANCIAL STATEMENT ANALYSIS AND VALUATION A STRATEGIC PERSPECTIVE 7TH EDITION BY WAHLEN

2. Prepare an income statement for Waggoner for the year (December 31 year-end).

Answer 1. $552,000 - 340,000 -3,000 -195,000 -20,000 = $6,000 decrease in cash