Question
please answer ASAP Somerset Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The company has provided the following information
please answer ASAP
Somerset Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The company has provided the following information pertaining to its recent year of operation:
Cash flow from operating activities, $144,000
Accounts payable decreased $12,500
Prepaid assets increased $7,900
Depreciation expense was $13,900
Accounts receivable decreased $10,900
Loss on sale of a depreciable asset was $8,800
Wages payable increased $5,400
Unearned revenue decreased $8,800
Patent amortization expense was $5,400
How much was Somerset's net income?
Answers:
$128,00
$136,000
$103,000
$105,400
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