Question
. During 2015 the Magneto Company had a net income of $66,000. In addition, selected accounts showed the following information: Accounts receivable - decrease $6,000
. During 2015 the Magneto Company had a net income of $66,000. In addition, selected accounts showed the following information:
Accounts receivable - decrease $6,000
Accounts payable - decrease 3,000
Accumulated depreciation - increase 4,500
Gain on sale of long-term investment 9,000
Long-term investments - decrease 25,000
Equipment - increase 10,000
No long-term investments were purchased during the year and no equipment was sold during the year. What was the cash flow from operating activities?
What was the amount of cash provided by operating activities?
a. $73,500
b. $58,500
c. $82,500
d. $64,500
Please explain
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