4 Question text Presented below is the income statement of Nicklaus, Inc.: Sales Cost of goods sold Gross profit Operating expenses Income before income taxes Income taxes Net Income In addition, the following information related to net changes in working capital accounts is presented: Cash Prepaid Expenses (operating) Inventories Salaries payable (operating) Trade accounts payable Increase $15,000 8,400 11,000 Decrease $16.200 $475,000 280.000 195,000 89.000 106,000 42.000 $64,000 6,000

Question text Presented below is the income statement of Nicklaus, Inc.: In addition, the following information related to net changes in working capital accounts is presented: The company also indicates that depreciation expense for the year was $14,200. Cash paid for operating expenses is: Select one: a. $86,600 b. $103,400 c. $74,600 d. $88,400 e. $91,400 Feedback The correct answer is: $103,400