Question
The following information is available from the financial statements of Worthington Corporation for the year ended December 31,2015. Net income ...................... $396,000 Increase in accounts
The following information is available from the financial statements of Worthington Corporation for the year ended December 31,2015. Net income ...................... $396,000 Increase in accounts payable...... $24,000 Depreciation expense ........ 102,000 Payment of dividends ............... 54,000 Decrease in accounts Purchase of available-for- receivable .................... 104,000 sale securities ....................... 22,000 Increase in inventories ...... 90,000 Decrease in income taxes payable ................................. 16,000 What is Worthington Corporations net cash flows from operating activities? a. $440,000 b. $466,000 c. $520,000 d. $542,000
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