Only typing answerPlease explain step by step The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were$40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:Beginning$56,955102,67088,0198,74878,333CashAccounts receivableInventoriesPrepaid expensesAccounts payable (merchandise creditors)End$46,796125,836100,8204,80446,898What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?Oa. 5381,211Ob. 5402,315Oc. $275,399Od. 5194,025

Cash flow statement :— It is one of the financial statements that shows change in cash and cash…

The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were $40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End $46,796 125,836 100,820 4,804 46,898 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. 5381,211 Ob. 5402315 Oc. $275,399 Od. 5194025 Cash Accounts receivable Inventories Prepaid expenses Accounts payable (merchandise creditors) Beginning $56,955 102,670 88,019 8,748 78,333

The net income reported on the income statement for the current year was $287,618. Depreciation recorded on fixed assets and amortization of patents for the year were $40,687, and $10,552, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End $46,796 125,836 100,820 4,804 46,898 What is the amount of net cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. 5381,211 Ob. 5402315 Oc. $275,399 Od. 5194025 Cash Accounts receivable Inventories Prepaid expenses Accounts payable (merchandise creditors) Beginning $56,955 102,670 88,019 8,748 78,333

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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