The financial statements of Simon Co. include the following items (amounts in thousands): Income Statement...
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Accounting
The financial statements of Simon Co. include the following items (amounts in thousands): Income Statement For the Year Ended December 31, 2020 Net income $ 492 Depreciation and amortization expense 344 At December 31 Balance Sheets 2020 2019 Accounts receivable $ 120 $ 163 Inventory 189 100 Accounts payable 88 152 Income taxes payable 68 24
Required: a. Calculate the net cash flow provided by operations for Simon Co. for the year ended December 31, 2020.
(Enter your answer in thousands. (i.e., 20,000 should be entered as 20)) b. Net income and cash flows provided by operations may differ because of the timing of cash receipts and payments versus the timing of recognition on the income statement. multiple choice True False
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