elling, general, and administrative expenses were $80,000; net sales were $390,000; interest expense was $16,000; research and development xpenses were $34,000; net cash provided by operating activities was $42,000; income tax expense was $10,000; cost of goods sold was $220,000. let income was $40,000; accounts receivable decreased by $10,000; inventory increased by $3,000; proceeds from the issuance of long-term debt vere $22,500; equipment purchases were $75,000; depreciation expense was $16,000. The net cash provided (used) by operating activities for the eriod was: Multiple Choice $47,000. О $49,000. $10,500. $63,000. ×
elling, general, and administrative expenses were $80,000; net sales were $390,000; interest expense was $16,000; research and development xpenses were $34,000; net cash provided by operating activities was $42,000; income tax expense was $10,000; cost of goods sold was $220,000. let income was $40,000; accounts receivable decreased by $10,000; inventory increased by $3,000; proceeds from the issuance of long-term debt vere $22,500; equipment purchases were $75,000; depreciation expense was $16,000. The net cash provided (used) by operating activities for the eriod was: Multiple Choice $47,000. О $49,000. $10,500. $63,000. ×
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Selling, general, and administrative expenses were $80,000; net sales were $390,000; interest expense was $16,000; research and development
expenses were $34,000; net cash provided by operating activities was $42,000; income tax expense was $10,000; cost of goods sold was $220,000.
Net income was $40,000; accounts receivable decreased by $10,000; inventory increased by $3,000; proceeds from the issuance of long-term debt
were $22,500; equipment purchases were $75,000; depreciation expense was $16,000. The net cash provided (used) by operating activities for the
period was:
Multiple Choice
$47,000.
$49,000.
$10,500.
$63,000.
×
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