Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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, 2025 Sales Revenue $245,000 Interest Revenue 2,000 Gain on Sale of Plant Assets 6,000 Total Revenues and Gains $253,000 Cost of Goods Sold 119,000 Salary Expense 45,000 Depreciation Expense 13,000 Other Operating Expenses 20,000 O A. $33,100 B. $39,100 O c. $13,000 D. $26,100 LUSI UI UUUUS SUIU 119,VUU Salary Expense 45,000 Depreciation Expense 13,000 Other Operating Expenses 20,000 Interest Expense 1,700 Income Tax Expense 5,200 Total Expenses 203,900 Net Income (Loss) $49,100 Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $22,000. 2. Current liabilities decreased by $1,000. Compute the net cash provided by (used for) operating activities. O A. $33,100 OB. $39,100 O c. $13,000 OD. $26,100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Introduction To Concepts Methods And Uses

Authors: Clyde P. Stickney, Roman L. Weil

11th Edition

0324222971, 978-0324222975

More Books

Students also viewed these Accounting questions