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Mast Company reports net income of $340,000 for the year ended December 31. It also reports $111,900 depreciation expense and a $12,100 loss on the

Mast Company reports net income of $340,000 for the year ended December 31. It also reports $111,900 depreciation expense and a $12,100 loss on the sale of equipment. Its comparative balance sheet reveals a $48,600 increase in accounts receivable, a $12,300 decrease in prepaid expenses, a $18,700 increase in accounts payable, and a $15,300 decrease in wages payable. Calculate the net increase in cash for the year.

Multiple Choice

  • $310,100.

  • $340,700.

  • $321,800.

  • $431,100.

  • $231,800.

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