11 1. A company had net income of $460,000. Depreciation expense is $52,000. During the year, Accounts Receivable and Inventory increased $30,000 and $80,000, respectively. Prepaid Expenses and Accounts Payable decreased $4,000 and $8,000, respectively. There was also a loss on the sale of equipment of $6,000. How much cash was provided by operating activities? Answer A. $404,000 B. $552,000 C. $392,000 D. $576,000 1 points Question 12 1. IT Company reported sales revenue of $100,000 and total expenses of $90,000 (including depreciation) for the year ended December 31, 2012. During the year 2012, accounts receivable decreased by $4,000, merchandise inventory increased by $3,000, accounts payable increased by $2,000, and depreciation expense of $7,000 was recorded. Assuming no other data are needed, the net cash inflow from operating activities for 2012 was: Answer A. $13,000 B. $18,000 C. $ 7,000 D. $20,000 1 points Question 13 1. In a statement of cash flows, receipts from sales of property, plant, and equipment and other productive assets should generally be classified as cash inflows from Answer A. operating activities. B. selling activities. C. investing activities. D. financing activities. 1 points Question 14 1. Which of the following is not disclosed in a statement of cash flows using the direct method? Answer A. Cash received from customers B. Depreciation expense C. Cash received from issuing stock D. Cash paid for interest 1 points Question 15 1. After completing a bank reconciliation, you are preparing journal entries to agree the firm's Cash account balance with the reconciled balance shown on the reconciliation. Which of the following requires a journal entry? Answer A. Deposits in transit at the end of the period B. Outstanding checks at the end of the period C. An error by the bank in recording one of the firm's deposits D. An