Question
Majorn Auto Parts Store had net income of $86,000 for the year just ended. Majorn collected the following additional information to prepare its statement of
Majorn Auto Parts Store had net income of $86,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year:
| Increase in accounts receivable | $ | 112,000 |
| Decrease in inventory | $ | 23,000 |
| Decrease in accounts payable | $ | 40,000 |
| Increase in retained earnings | $ | 34,000 |
| Cash received from sale of building | $ | 220,000 |
| Gain on sale of building | $ | 52,000 |
| Depreciation expense | $ | 37,000 |
Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided by (used in) operating activities?
Multiple Choice
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$46,000
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$(58,000)
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$200,000
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$294,000
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Finance And Accounting For Nonfinancial Managers
Authors: Steven A. Finkler
5th Edition
9780808046905
