Meyer Company Reported Net Income of $70,000 for the Year

question 99

Multiple Choice

Meyer Company reported net income of $70,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 was recorded. Net cash provided by operating activities for the year is

• A) $65,000.
• B) $85,000.
• C) $69,000.
• D) $70,000.

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