Question
Need help asap thumbs up fast XYZ Company reported net income of $186,000 for 2010. The company also reported depreciation expense of $50,000 and a
Need help asap thumbs up fast
XYZ Company reported net income of $186,000 for 2010. The company also reported depreciation expense of $50,000 and a gain on the sale of equipment of $30,000. The companys comparative balance sheet shows the following:
- Decrease in accounts receivable $80,000
- Increase in inventory $40,000
- Decrease in accounts payable $10,000
- Increase in salaries payable $5,000
- Sale of common stock $200,000
- Proceeds from the sale of equipment $80,000
Using the above information, the operating activities section of the cash flow statement would reflect:
A) Net cash provided by operating activities $301,000
B)Net cash provided by operating activities $241,000
C)Net cash provided by operating activities $361,000
D)Net cash provided by operating activities $521,000
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