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In the period 2011, Lott Inc. performed services for $120,000 and billed its customers. The company subsequently collected $82,000 of the amount billed. Lott Incurred
In the period 2011, Lott Inc. performed services for $120,000 and billed its customers. The company subsequently collected $82,000 of the amount billed. Lott Incurred $75,000 of operating expenses but paid cash for only $62,000 of that amount. Lott acquired $30,000 cash from the Issue of common stock. The company invested $18,000 cash in the purchase of land. What is the amount of cash flow from Investing activities? Multiple Choice $48,000. $30,000. $20,000. $18,000
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