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Canada (161,368)
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ACC 110 (66)
Chapter 5

Cash flow statement 1 Question - Tidman Inc - Chapter 5 (1).docx

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Department
Accounting
Course
ACC 110
Professor
Marla Spergel
Semester
Fall

Description
The financial statements of Tidman Inc. appear below: TIDMAN INC. Income Statement Year Ended December 31, 2010 Sales $235,000 Cost of goods sold 200,000 Gross profit 35,000 Operating expenses 18,000 Income from operations 17,000 Interest expense 2,000 Income before income taxes 15,000 Income tax expense 6,000 Net income $ 9,000 TIDMAN INC. Comparative Balance Sheet December 31 2010 2009 Assets Cash $ 8,500 $ 10,000 Accounts receivable 15,500 17,000 Prepaid insurance
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