Question
Everett Inc. reported the following information for 2009 and 2010. 2009 2010 Accounts receivable $50,000 $65,000 Inventories $43,000 $40,000 Accounts payable $29,000 $39,000 Net income
Everett Inc. reported the following information for 2009 and 2010.
| 2009 | 2010 | |
| Accounts receivable | $50,000 | $65,000 |
| Inventories | $43,000 | $40,000 |
| Accounts payable | $29,000 | $39,000 |
| Net income | $100,000 | |
| Depreciation expense | $11,000 |
If Everett Inc. uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2010?
| a. | $98,000 | |
| b. | $139,000 | |
| c. | $119,000 | |
| d. | $109,000 |
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Audit Proof Tax Shelters
Authors: Donald Jay Korn
1st Edition
0130509310, 978-0130509314
