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comparative balance sheets of Atlas, Incorporated show a net increase in inventory of $87,000 and a net decrease in unts payable of $46,000 during Year 2. In computing net cash flows from operating activities under the indirect meth me for Year 2 should be: Multiple Choice 27

comparative balance sheets of Atlas, Incorporated show a net increase in inventory of $87,000 and a net decrease in unts payable of $46,000 during Year 2. In computing net cash flows from operating activities under the indirect meth me for Year 2 should be: Multiple Choice 27

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The comparative balance sheets of Atlas, Incorporated show a net increase in inventory of $87,000 and a net decrease in accounts payable of $46,000 during Year 2. In computing net cash flows from operating activities under the indirect method, net Income for Year 2 should be: Multiple Choice Reduced by a total of $41,000. Reduced by a total of $133,000. Increased by a total of $133,000. Increased by a total of $41,000.
Transcribed Image Text:The comparative balance sheets of Atlas, Incorporated show a net increase in inventory of $87,000 and a net decrease in accounts payable of $46,000 during Year 2. In computing net cash flows from operating activities under the indirect method, net Income for Year 2 should be: Multiple Choice Reduced by a total of $41,000. Reduced by a total of $133,000. Increased by a total of $133,000. Increased by a total of $41,000.
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