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Rachel's Recordings reported net income of $220,000. Beginning balances in accounts receivable and accounts payable were $16,000 and $23,000 respectively. Ending balances in these accounts
Rachel's Recordings reported net income of $220,000. Beginning balances in accounts receivable and accounts payable were $16,000 and $23,000 respectively. Ending balances in these accounts were $10,500 and $30,000, respectively. Assuming that all relevant information has been presented, Rachel's cash flows from operating activities would be:
a. $220,000.
b. $207,500.
c. $225,500.
d. $232,500.
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