The Net Income for the year was $320,000. Depreciation on equipment and Amortization on a patent were $50,000 and $12,000, respectively. Balances in current assets and current liabilities were as follows (Ending and Beginning): • . Cash: $65,000 | $75,000 Accounts Receivable: $125,000 | $118,000 Inventory: $98,000 | $87,000 • Prepaid Expenses: $5,000 | $7,500 • Accounts Payable: $82,000 | $94,000 What would be the Cash from Operating Activities?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The Net Income for the year was $320,000. Depreciation on equipment and
Amortization on a patent were $50,000 and $12,000, respectively. Balances
in current assets and current liabilities were as follows (Ending and
Beginning):
•
.
Cash: $65,000 | $75,000
Accounts Receivable: $125,000 | $118,000
Inventory: $98,000 | $87,000
•
Prepaid Expenses: $5,000 | $7,500
•
Accounts Payable: $82,000 | $94,000
What would be the Cash from Operating Activities?
Transcribed Image Text:The Net Income for the year was $320,000. Depreciation on equipment and Amortization on a patent were $50,000 and $12,000, respectively. Balances in current assets and current liabilities were as follows (Ending and Beginning): • . Cash: $65,000 | $75,000 Accounts Receivable: $125,000 | $118,000 Inventory: $98,000 | $87,000 • Prepaid Expenses: $5,000 | $7,500 • Accounts Payable: $82,000 | $94,000 What would be the Cash from Operating Activities?
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