A company's income statement showed the following: net income, $146,800; depreciation expense, $35,400, and gain on sale of plant assets, $16,700. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,200; merchandise inventory increased $21,600; prepaid expenses decreased $8,000; accounts payable increased $4,600. Calculate the net cash provided or used by operating activities. a. $196,700. b. $8,000. c. $166,000. d. $173,000. e. $167,700.

A company's income statement showed the following: net income, $146,800; depreciation expense, $35,400, and gain on sale of plant assets, $16,700. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,200; merchandise inventory increased $21,600; prepaid expenses decreased $8,000; accounts payable increased $4,600. Calculate the net cash provided or used by operating activities. a. $196,700. b. $8,000. c. $166,000. d. $173,000. e. $167,700.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 6EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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