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The Guinness Hotel reported net income of $900,000 for the year. During the year: - Accounts Receivable increased by $80,000 - Inventory increased by $160,000
The Guinness Hotel reported net income of $900,000 for the year. During the year: - Accounts Receivable increased by $80,000 - Inventory increased by $160,000 - Accounts Payable decreased by $16,500 - Depreciation Expense was $113,000 - Prepaid Expenses decreased by $5,000 - There was a loss on the sale of equipment of $13,000 Based on this information, the net cash provided by operating activities on the statement of cash flows would be: $761,500 $774,500 $820,000 $941,000
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