50.1K

Verified Solution

Link Copied!

help!! please i need in 20 minutes!! upvote will be lefted!

Kevin Allen and Laura King are examining the following summary of cash flows for Martinez Company for the year ended lanuary 31. 2025. Kevin claims that this summary shows that Martinez had a superb first year. with cash increasing $35,060. Laura replies that it was not a superb first year. Rather, she says, the year was an operating fallure and that $35,060 is not the actual increase in cash. The cash Kevin claims that this summary shows that Martinez had a superb first year, with cash increasing $35.060. Laura replies that it was not asuperb first year. Rather, she says, the year was an operating failure and that $35,060 is not the actual increase in cash. The cash balance at the beginning of the year was $140,110. Using the data provided, determine the net income/(loss) for the year ended January 31, 2025. Depreciation expense was $55.400. (Enter negative amounts using either a negative sign preceding the number es, 45 or parentheses eg. (45)) Net income (loss) \$ Prepare a statement of cash flows in proper form using the indirect method. The only noncash items in the income statement are depreciation and the gain from the sale of the investment. (Show amounts that decrease cash flow with elther a-sign eg. 15.000 or in parenthesis es. (15,000)J Prepare a statement of cash flows in proper form using the indirect method. The only noncash items in the income statement are depreciation and the gain from the sale of the imvestment. (Show amounts that decrease cash flow with either a - sign eg- - 15 , 000 or in parenthesises (15,000)N

Answer & Explanation Solved by verified expert

See Answer