Question
ABC Company has completed the basic format to be used in preparing the statement of cash flows (indirect method). Listed below in random order are
ABC Company has completed the basic format to be used in preparing the statement of cash flows (indirect method). Listed below in random order are line items to be included in the statement of cash flows. Purchase of equipment Decrease in inventory Increase in prepaid rent Payment of dividends Depreciation expense Increase in accounts receivable Increase in accounts payable Gain on sale of land $ 2,260 283 85 350 164 520 200 151 Net income 1.180 Repayment of notes payable 463 Cash received from the sale of land 32 Issuance of common stock 2,460 Required: What is the net cash provided by operating activities? $1,071 inflow $1,373 inflow O $505 inflow $479 inflow What is the net cash provided by investing activities? $2,228 outflow O $2,379 outflow O $2,064 outflow O $2,215 outflow What is the net cash flow by financing activities? O $1,647 inflow $1,997 inflow $2,110 inflow $2,460 inflow
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started