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Window Cleaning Co. reported the following balance sheets and income statement: Balance Sheets at December 31 Yr 2 Yr 1 Current assets $1,400 $6,000 Accounts
Window Cleaning Co. reported the following balance sheets and income statement:
Balance Sheets at December 31 | Yr 2 | Yr 1 |
---|---|---|
Current assets | $1,400 | $6,000 |
Accounts receivable | 13,500 | 12,000 |
Inventory | 9,800 | 4,500 |
Prepaid insurance | 1,200 | 900 |
Equipment, net | 45,000 | 45,600 |
Total assets | $70,900 | $69,000 |
Accounts payable | $20,600 | $20,200 |
Wages payable | 7,400 | 8,000 |
Common stock | 32,000 | 31,000 |
Retained earnings | 10,900 | 9,800 |
Total liabilities and equity | $70,900 | $69,000 |
Income Statement for Year 2 | |
---|---|
Sales | $104,500 |
Cost of goods sold | 49,500 |
Depreciation expense | 8,700 |
Other operating expenses | 27,800 |
Income taxes expense | 6,000 |
Net income | $12,500 |
How much is the companys cash flow for investing activities?
Select one:
a. $6,700
b. $(6,200)
c. $1,500
d. $(8,100)
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