Plants Supreme, Inc., a small retail store which sells house plants, started business on January 1, 20X1. At the end of January, 20X1, the following information was available: Cash expenditures during January:
A. Using the above information, prepare the income statement for Plants Supreme for the month ended January 31, 20X1.
B. What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?

Question

Plants Supreme, Inc., a small retail store which sells house plants, started business on January 1, 20X1. At the end of January, 20X1, the following information was available:   Cash expenditures during January:  
A. Using the above information, prepare the income statement for Plants Supreme for the month ended January 31, 20X1.
B. What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?

Quizplus · Accepted Answer

The Answer of Plants Supreme, Inc., a small retail store which sells house plants, started business on January 1, 20X1. At the end of January, 20X1, the following information was available:   Cash expenditures during January:  
A. Using the above information, prepare the income statement for Plants Supreme for the month ended January 31, 20X1.
B. What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?