The net income reported on the income statement for the current year was $226000. Depreciation was $49000. Accounts receivable and inventories decreased by $5000 and $14000, respectively. Prepaid expenses and accounts payable increased, respectively, by $500 and $13000. Investments were sold at a loss of $21100. How much cash was provided by operating activities? O $243500. O $298500. $289500. $327600.

The net income reported on the income statement for the current year was $226000. Depreciation was $49000. Accounts receivable and inventories decreased by $5000 and $14000, respectively. Prepaid expenses and accounts payable increased, respectively, by $500 and $13000. Investments were sold at a loss of $21100. How much cash was provided by operating activities? O $243500. O $298500. $289500. $327600.

Name: The net income reported on the income statement for the current year
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Description: The net income reported on the income statement for the current year was $226000. Depreciation was$49000. Accounts receivable and inventories decreased by $5000 and $14000, respectively. Prepaidexpenses and accounts payable increased, respectively,

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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