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RM Company, a manufacturer, has provided the following information pertaining to its recent year of operation: Net Income = $390,000 Accounts payable increased $33,000 Prepaid
RM Company, a manufacturer, has provided the following information pertaining to its recent year of operation:
- Net Income = $390,000
- Accounts payable increased $33,000
- Prepaid rent decreased $14,500
- Depreciation expense was $44,000
- Accounts receivable increased $43,000
- Gain on sale of building was $15,500
- Sale of long-term investment for $9,000 cash
- Wages payable decreased $30,000
- Unearned revenue increased $53,000
- Patent amortization expense was $5,000
Using the indirect method, how much was RM's net cash provided by operating activities? (In other words, what would RM Company show as its net Cash Flow from Operations? )
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