Question
Rodriguez Tint, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Rodriguez, Inc. Income Statement Year
Rodriguez Tint, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
Rodriguez, Inc. Income Statement Year Ended December 31, 2017 | |||
Sales Revenue | $150,000 | ||
Interest Revenue | 6,000 | ||
Loss on Sale of Plant Assets | (5,100) | ||
Total Revenues and Gains | $150,900 | ||
Cost of Goods Sold | 140,000 | ||
Salary Expense | 119,000 | ||
Depreciation Expense | 7,000 | ||
Other Operating Expenses | 13,100 | ||
Interest Expense | 16,400 | ||
Income Tax Expense | 6,000 | ||
Total Expenses | 201,500 | ||
Net Income (Loss) | $(50,600) |
Additional information provided by the company includes the following:
Current assets, other than cash, decreased by
$5,300.
Current liabilities increased by
$2,300.
Compute the net cash provided by (used for) operating activities.
A.$36,000
B.$10,400
C.$(58,200)
D.$(30,900)
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