The net income reported on the income statement for the current year was $267,658. Depreciation recorded on fixed assets and amortization of patents for the year wi 39,416 and $8,813, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $67,077 Accounts Receivable 104,170 Inventories 94,224 Prepaid Expenses 7,558 Accounts Payable (merchandise creditors) 74,085 What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? $250,802 Oh $273,322 $348,150 45247,037 $40,557 126,402 114,557 3,636 47,643
The net income reported on the income statement for the current year was $267,658. Depreciation recorded on fixed assets and amortization of patents for the year wi 39,416 and $8,813, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $67,077 Accounts Receivable 104,170 Inventories 94,224 Prepaid Expenses 7,558 Accounts Payable (merchandise creditors) 74,085 What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? $250,802 Oh $273,322 $348,150 45247,037 $40,557 126,402 114,557 3,636 47,643
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The net income reported on the income statement for the current year was $267,658. Depreciation recorded on fixed assets and amortization of patents for the year were
$39,416 and $8,813, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
End
Beginning
Cash
$40,557
Accounts Receivable
126,402
Inventories
114,557
94,224
Prepaid Expenses
3,636
7,558
Accounts Payable (merchandise creditors)
47,643
74,085
What is the amount of the net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
O $250,802
b. $273,322
5348,150
45247,037
$67,077
104,170
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