The Net Income Reported on the Income Statement for the Current

question 89

Multiple Choice

The net income reported on the income statement for the current year was $220000. Depreciation recorded on plant assets was $35000. Accounts receivable and inventories increased by $2000 and $8000 respectively. Prepaid expenses and accounts payable decreased by $2000 and $12000 respectively. How much cash was provided by operating activities?

• A) $200000
• B) $235000
• C) $220000
• D) $255000

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Definitions:

Billion

A numerical value representing one thousand million (1,000,000,000) in the American short scale.

Americans

Typically refers to the citizens or people of the United States of America.

Black Families

Social and economic units consisting of individuals with African descent, focusing on their demographic characteristics, family structures, and sociocultural dynamics.

Headed

Directed or moving towards a specific direction or destination.