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In 2019, La Jolla Company reported net income of $290,000 for the year. Depreciation expense was $30,000 and a loss on disposal of equipment of
In 2019, La Jolla Company reported net income of $290,000 for the year. Depreciation expense was $30,000 and a loss on disposal of equipment of $15,000 was recorded. A comparative balance sheet for select accounts is listed below. 12/31/19 12/31/18 Increase (Decrease) Accounts Receivable $60,000 $40,000 $20,000 Inventory 90,000 120,000 (30,000) Equipment 105,000 65,000 40,000 Accounts Payable 40,000 45,000 (5,000) What is the net cash provided by operating activities in 2019 using the indirect method? O A. $320,000 $300,000 oc. $325,000 O D. $340,000
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