Use the Indirect Method to Answer Questions the Following Information

question 25

Multiple Choice

Use the indirect method to answer questions The following information is available for Felix Company:
$$\begin{array} { l r l r } \text { Net income } & \$ 300 & \text { Decrease in plant and equip. } & \$ 40 \\\text { Depreciation expense } & 20 & \text { Increase in deferred tax asset } & 5 \\\text { Gain on sale of assets } & 35 & \text { Decrease in long-term debt } & 50 \\\text { Increase in inventories } & 25 & \text { Decrease in accounts payable } & 15\end{array}$$
-What is cash flow from operating activities for Felix Company?

• A)$240
• B)$70
• C)$320
• D)$250

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Definitions:

Contracts

Legal agreements between two or more parties that are enforceable by law.

Bayview Credit Union Ltd. v. Daigle

A legal case, the specifics of which would require access to legal databases or resources for accurate information.

Minors

Persons under the age of majority; also known as infants.

Businesspeople

Individuals engaged in commercial, industrial, or professional activities, often with the aim of generating profits.