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During Year 2, Chico Company earned $3,500 of cash revenue, paid $1,450 of cash expenses, and paid a $950 cash dividend to its owners. Based
During Year 2, Chico Company earned $3,500 of cash revenue, paid $1,450 of cash expenses, and paid a $950 cash dividend to its owners. Based on this information alone, which of the following is not correct?
a) Net income amounted to $2,050.
b) Total assets increased by $1,100.
c) Cash outflow from financing activities was $1,100.
d) Cash inflow from operating activities was $2,050.
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