Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company had net income of $ 2 6 5 , 3 7 0 and depreciation expense of $ 2 8 , 9 4 9

A company had net income of $265,370 and depreciation expense of $28,949. During the year, accounts receivable and inventory increased by $15,749 and $37,289, respectively. Prepaid expenses and accounts payable decreased by $1,434 and $6,421, respectively. There was also a loss on the sale of equipment of $7,325. How much was the net cash flows from operating activities on the statement of cash flows using the indirect method?
a. $301,644
b. $228,969
c. $285,091
d. $243,619

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I

Volume 1, 6th Edition

1259103250, 978-1259103254, 978-0071339476

More Books

Students also viewed these Accounting questions

Question

Consider the following four structures: (i) See Figure 9.23:

Answered: 1 week ago