Multiple Choice Question 77

Bonita Industries reported net income of $58000 for the year ended December 31, 2018 Included in net income were depreciation expense of $8000 and a gain on sale of equipment of $2200. Each of the following accounts increased during 2018:

Accounts receivable$2200Inventory$4600Prepaid rent$6800Available-for-sale securities$1100Accounts payable$5000

What is the amount of cash provided by operating activities for Bonita Industries for the year ended December 31, 2018?

$46200

$55200

$54100

$57400