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XYZ Company reported net income of $230,000 on their December 31st, 2021 income statement. The accounting records reveal depreciation expense of $80,000 as well
XYZ Company reported net income of $230,000 on their December 31st, 2021 income statement. The accounting records reveal depreciation expense of $80,000 as well as an increase in prepaid expenses and accounts payable of $20,000 and $40,000, respectively. The records also show a decrease in wages payable of $50,000. Using the indirect method, what amount will XYZ Company report as cash flows from operating activities on their cash flows statement? a. $280,000* b. $300,000 c. $230,000 d. $310,000
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