Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following
Question:
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following incomestatement:
Kentucky Company
Income Statement
Year Ended December31, 2025
Sales Revenue
$246,000
Interest Revenue
2,000
Gain on Sale of Plant Assets
5,700
Total Revenues and Gains
$253,700
Cost of Goods Sold
121,000
Salary Expense
44,000
Depreciation Expense
12,000
Other Operating Expenses
23,000
Interest Expense
1,800
Income Tax Expense
5,400
Total Expenses
207,200
Net Income(Loss)
$46,500
Additional information provided by the company includes thefollowing:
1. Currentassets, other thancash, increased by $24,000.
2. Current liabilities decreased by $1,300.
Compute the net cash provided by(used for) operating activities.
A.
$27,500
B.
$12,700
C.
$21,200
D.
$33,200
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