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Alvez reports net income of $347,500 for the year ended December 31. It also reports $115,800 depreciation expense and a $12,550 loss on the sale
Alvez reports net income of $347,500 for the year ended December 31. It also reports $115,800 depreciation expense and a $12,550 loss on the sale of equipment. Its comparative balance sheet reveals a $50,400 increase in accounts receivable, a $12,750 decrease in prepaid expenses, a $19,450 increase in accounts payable, a $15,900 decrease in wages payable, a $93,700 increase in equipment, and a $125,500 decrease in notes payable. Calculate the net increase in cash for the year.
$316,250.
$441,750.
$235,100.
$222,550.
$348,050.
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