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Mast Company reports net income of $315,000 for the year ended December 31. It also reports $98,900 depreciation expense and a $10,600 loss on the
Mast Company reports net income of $315,000 for the year ended December 31. It also reports $98,900 depreciation expense and a $10,600 loss on the sale of equipment. Its comparative balance sheet reveals a $42,600 increase in accounts receivable, a $10,800 decrease in prepaid expenses, a $16,200 increase in accounts payable, and a $13,300 decrease in wages payable. Calculate the net increase in cash for the year.
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