The net income reported on the income statement for the current year was $247000. Depreciation was $39900. Accounts receivable and inventories decreased by $11700 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7800. Using the indirect method, how much cash was provided by operating activities? O $313200 O $324900 O $340500

The net income reported on the income statement for the current year was $247000. Depreciation was $39900. Accounts receivable and inventories decreased by $11700 and $35300, respectively. Prepaid expenses and accounts payable increased, respectively, by $1200 and $7800. Using the indirect method, how much cash was provided by operating activities? O $313200 O $324900 O $340500

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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