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:

Seriation

Placing objects in an order or series according to a property or trait.

Zone of Proximal Development

A concept in educational psychology referring to the difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.

Cognitive Skills

The mental capabilities involved in processing information, problem-solving, decision making, and learning, including attention, memory, and reasoning.

Skilled People

Individuals who have acquired special abilities, knowledge, or expertise through training or experience, enhancing their job performance.