Use the Following Information for Questions 51 Through 55

question 82

Multiple Choice

Use the following information for questions 51 through 55.
Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Harlan Mining Co. for 2015 and 2014 are provided below.
The following additional data were provided:
1. Dividends for the year 2015 were $144,000.
2. During the year, equipment was sold for $180,000. This equipment cost $264,000 originally and had a book value of $216,000 at the time of sale. The loss on sale was incorrectly charged to cost of sales.
3. All depreciation expense is in the selling expense category.
-The net cash provided by operating activities is

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Definitions:

Winner-Take-All Markets

Markets in which the top performers or companies receive a disproportionately large share of the rewards, and the remaining competitors are left with very little.

Hourly Wage

The amount of money paid for each hour of work.

Dual Labor Market Theory

A theory suggesting the labor market is divided into two segments—the primary (high wage, good jobs) and the secondary (low wage, poor quality jobs) sectors.

Productivity Growth

The increase in the efficiency of production, measured by the amount of goods and services produced per unit of input.