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Please show steps on how to get to the correct answer Question 7 0 out of 5 points During 2019 the Porter Company had a
Please show steps on how to get to the correct answer
Question 7 0 out of 5 points During 2019 the Porter Company had a net income of 63,000. Below is information sample information taken from a Porter's last two x balance sheets: 2019 54,000 3,000 Accounts Receivable (all current) Accounts Payable (all current) Long-Term Note Receivable Land Equipment Accumulated Depreciation, Equipment Common Stock 2018 50,000 4,000 10,000 105,000 60,000 96,000 60,000 2,500 40,000 5.000 55,000 Additional information for 2019: 1. Long-term notes receivable related to a loan Porter made to another business entity in the amount of $10,000 were paid back in cash before maturity. 2. Porter sold a piece of land at a $500 loss. No other land was purchased during the period. 3. Dividends in the amount of $2.000 were paid during the year. What was the net cash inflow from investing activities for 2019? Selected Answer: 3 D. $16,500 Correct Answer: C. $18,500Step by Step Solution
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