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An analyst compiled the following information for U Inc. for the year ended December 31, 2021: Net income was $1,980,000. Depreciation expense was $540,000. Interest
An analyst compiled the following information for U Inc. for the year ended December 31, 2021: Net income was $1,980,000. Depreciation expense was $540,000. Interest paid was $270,000. Income taxes paid were $135,000. Common stock was sold for $228,000. Preferred stock (8% annual dividend) was sold at par value of $278,000. Common stock dividends of $78,000 were paid. Preferred stock dividends of $22,240 were paid. Equipment with a book value of $128,000 was sold for $256,000. 5 Using the indirect method, what was U Inc.'s net cash flow from operating activities for the year ended December 31, 2021
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