Question
Assume May Co. is preparing the operating section using the indirect method. May Co. reported net income of $400,000 for the year and also had
Assume May Co. is preparing the operating section using the indirect method. May Co. reported net income of $400,000 for the year and also had the following items:
Increase in accounts receivable: $5,000
Increase in accounts payable: $9,000
Depreciation expense: $21,000
What is May Co.s net cash flow from operating activities?
$375,000
$407,000
$417,000
$425,000
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
7th Edition
978-0470477151, 978-0-470-5562, 470556242, 0-470-55624-2, 9780470556245, 978-0470507018
