Selected information from Smith Corporation's accounting records and financial statements for 2016 is as follows ($ in millions):

Cash paid to acquire machinery	$36
Retired common stock	50
Proceeds from sale of land	90
Gain from the sale of land	52
Investment revenue received	66
Cash paid to acquire office equipment	80

In its statement of cash flows, Smith should report net cash outflows from investing activities of:

a) $46 million.

b) $72 million.

c) $78 million.

d) $26 million.

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Smith Company reported net income for 2016 in the amount of $40,000. The company's financial statements also included the following:

Decrease in accounts receivable	$6,000
Increase in inventory	1,000
Depreciation expense	3,000

What is net cash provided by operating activities?

a)$38,000.

b)$48,000.

c)$43,000.

d)$35,000.

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Smith Company reported net income for 2016 in the amount of $40,000. The company's financial statements also included the following:

Increase in accounts receivable	$4,000
Decrease in inventory	2,000
Depreciation expense	3,000
Gain on sale of equipment	5,000

In the statement of cash flows what is net cash provided by operating activities under the indirect method?

a)$41,000.

b)$36,000.

c)$38,000.

d)$40,000.

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