A Company Had Net Income of $210000

question 85

Multiple Choice

A company had net income of $210000. Depreciation expense is $27000. During the year Accounts Receivable and Inventory increased $17000 and $42000 respectively. Prepaid Expenses and Accounts Payable decreased $5000 and $6000 respectively. There was also a loss on the sale of equipment of $2000. How much cash was provided by operating activities?

• A) $175000
• B) $179000
• C) $241000
• D) $271000

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Definitions:

Magnetized

The state of being magnetically charged, having a magnetic field induced or naturally occurring.

Easily Magnetized

Refers to materials that can quickly become magnetized when exposed to a magnetic field and retain the magnetization for a period.

Metals

Elements that typically have a shiny surface and can conduct electricity and heat efficiently.

Electromagnet

A type of magnet in which the magnetic field is produced by an electric current, which can be turned on or off.