MC Qu. 130 Use the following information...

Use the following information and the indirect method to calculate the net cash provided or used by operating activities:

Net income	$	86,400
Depreciation expense		13,100
Gain on sale of land		7,200
Increase in merchandise inventory		3,150
Increase in accounts payable		7,250

Multiple Choice

$96,400.

$37,800.

$14,850.

$15,850.

$30,600.

MC Qu. 161 Mercury Company reports...

Mercury Company reports depreciation expense of $41,000 for Year 2. Also, equipment costing $143,000 was sold for its book value in Year 2. There were no other equipment purchases or sales during the year. The following selected information is available for Mercury Company from its comparative balance sheet. Compute the cash received from the sale of the equipment.

At December 31	Year 2			Year 1
Equipment	$	615,000		$	758,000
Accumulated Depreciation-Equipment		432,000			505,000

Multiple Choice

$70,000.

$36,500.

$29,000.

$41,000.

$73,000.