Question
STATEMENT OF CASH FLOWS W.C. Cycling had $105,000 in cash at year-end 2013 and $45,000 in cash at year-end 2014. The firm invested in property,
STATEMENT OF CASH FLOWS W.C. Cycling had $105,000 in cash at year-end 2013 and $45,000 in cash at year-end 2014. The firm invested in property, plant, and equipment totaling $250,000. Cash flow from financing activities totaled +$170,000.
If cash flows from operations totaled $20,000, accruals increased by $55,000, receivables and inventories increased by $135,000, and depreciation and amortization totaled $25,000, what was the firm's net income?
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Accounting Information Systems
Authors: George H. Bodnar, William S. Hopwood
11th Edition
0132871939, 978-0132871938
