Question
Net income reported for the current year was $222,000. Depreciation expense was $35,000. Accounts Receivable and Inventories increased $4,000 and $7,000, respectively. Prepaid Expenses and
- Net income reported for the current year was $222,000. Depreciation expense was $35,000. Accounts Receivable and Inventories increased $4,000 and $7,000, respectively. Prepaid Expenses and Accounts Payable decreased $3,000 and $9,000, respectively. Using the indirect method, how much cash was provided by operating activities?
$240,000
$170,000
$258,000
$180,000
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Financial Accounting A User Perspective
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
6th Canadian Edition
470676604, 978-0470676608
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