During the Year, Smith Company Reported Net Income of $300,000

question 52

Multiple Choice

During the year, Smith Company reported net income of $300,000, including amortization of intangible assets of $66,000, depreciation of plant assets of $132,000, and amortization of premium on investment in bonds of $20,000. Applying the indirect method, cash provided by operating activities is what amount?

• A) $300,000
• B) $518,000
• C) $478,000
• D) $498,000

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