Question
2- Edmund Corp. reported net income for calendar 2018 of $300,000. Additional information follows: Depreciation on property, plant and equipment ..........$150,000 Bad debts expense..................................................... 55,000
2- Edmund Corp. reported net income for calendar 2018 of $300,000. Additional information follows:
Depreciation on property, plant and equipment ..........$150,000
Bad debts expense..................................................... 55,000
Purchase of equipment............................................... 25,000
Interest paid on long-term bonds ................................15,000
Loss on sale of equipment..........................................85,000
Based on the above information, the cash provided by operating activities (indirect method) for calendar 2018 is a) $565,000. b) $590,000.
c) $605,000.
d) $630,000.
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