Question
Selected accounts from Grains to Grow On Companys balance sheet appear below as of December 31: Bonds payable, net of $7,150 discount $ 94,500 Common
Selected accounts from Grains to Grow On Companys balance sheet appear below as of December 31:
Bonds payable, net of $7,150 discount | $ 94,500 | |
Common stock | 134,000 | |
Retained earnings | 147,500 | |
Accumulated other comprehensive income: | ||
Unrealized loss on available-for-sale securities | (7,000 | ) |
The company reported net income of $17,000 and interest expense of $11,000, of which $2,800 was bond amortization, on its income statement. In addition, the available-for-sale securities increased in value by $2,250 during the year. How much is the cash flows from (for) operating activities?
A. | $22,050 | |
B. | $18,400 | |
C. | $19,800 | |
D. | $15,600 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started