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Fleet Company reported net income of $340,000 for the year ended 12/31/17. Included in the computation of net income were: depreciation expense, $60,000; amortization of
Fleet Company reported net income of $340,000 for the year ended 12/31/17. Included in the computation of net income were: depreciation expense, $60,000; amortization of a patent, $32,000; income from an investment in ordinary shares of Brett Inc., accounted for under the equity method, $48,000; and amortization of a bond discount, $12,000. Fleet also paid an $80,000 dividend during the year. The net cash provided by operating activities would be reported at: $
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