QUESTION 15

1. The net income reported on the income statement for the current year was $245,000. Depreciation was $40,000. Account receivable and inventories increased by $8,000 and $15,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities?

   	a.	$332,000
   	b.	$393,000
   	c.	$269,000
   	d.	$287,000

1 points

QUESTION 16

1. Dongrea Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufactured, $866,000; beginning finished goods inventory, $252,000; ending work in process inventory, $220,000; and ending finished goods inventory, $424,000. Plano Company's cost of goods sold for the year is

   	a.	$544,000.
   	b.	$874,000.
   	c.	$812,000.
   	d.	$694,000.