Hamlet Ltd

question 36

Multiple Choice

Hamlet Ltd.adheres to ASPE.On Hamlet Ltd.'s statement of cash flows (indirect method) for calendar 2017, cash flows from operating activities were reported at $154,000.The statement included the following items: depreciation on plant assets of $60,000; impairment of goodwill of $10,000; and cash dividends paid of $72,000.Based only on the information given above, Hamlet's net income for 2014 was

• A)$12,000.
• B)$84,000.
• C)$154,000.
• D)$214,000.

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Definitions:

Glycolysis

A metabolic pathway that breaks down glucose into pyruvate, releasing energy and producing ATP, occurring in the cytosol of the cell.

Coenzyme A

A coenzyme involved in the synthesis and oxidation of fatty acids, and the oxidation of pyruvate in the citric acid cycle.

Pyruvate

A key intermediate compound in cellular respiration and metabolism, resulting from the glycolysis of glucose.

Acetyl CoA

Acetyl CoA is a central metabolite in energy metabolism, acting as a substrate for the citric acid cycle and involved in the synthesis and oxidation of fatty acids.