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During the year, Glencoe Corporation paid dividends of $20,000 and received a bank loan for $60,000. The companys net income for the year was $30,000.
During the year, Glencoe Corporation paid dividends of $20,000 and received a bank loan for $60,000. The companys net income for the year was $30,000. Depreciation expense for the year was $16,000. Accounts receivable increased by $2,000, inventory decreased by $3,000, accounts payable decreased by $2,200, and prepaid insurance increased by $2,400. How much is the company's cash flow from operations? Select one: A. $49,600 B. $42,400 C. $26,400 D. $33,600
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