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Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Kentucky Company Income Statement Year Ended
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Kentucky Company Income Statement Year Ended December 31, 2019 Sales Revenue $246,000 Interest Revenue 3,000 Gain on Sale of Plant Assets 5,700 Total Revenues and Gains Cost of Goods Sold 124,000 Salary Expense 41,000 Depreciation Expense 15,000 $254,700 Depreciation Expense Other Operating Expenses Interest Expense Income Tax Expense Total Expenses Net Income (Loss) 15,000 21,000 1,800 5,200 208,000 $46,700 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $24,000. 2. Current liabilities decreased by $1,200. Compute the net cash provided by (used for) operating activities. A. $36,500 B. $21,500 C. $30,800 D. $12,600
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