Net Income Reported for the Current Year Was $100,000

question 84

Multiple Choice

Net income reported for the current year was $100,000.Depreciation expense was $25,000.Accounts Receivable and Inventories decreased $5,000 and $15,000, respectively.Prepaid Expenses and Accounts Payable increased, respectively, by $500 and $4,000.Using the indirect method, how much cash was provided by operating activities?

• A)$101,500
• B)$123,500
• C)$140,500
• D)$148,500

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Definitions:

Auditory Capabilities

The range of skills related to hearing, including the ability to perceive, identify, and process sounds.

Visual Capabilities

The range of visual functions an organism possesses, including acuity, color perception, depth perception, and field of view.

Fertilized Egg

An egg cell that has fused with a sperm cell, beginning the process of embryonic development.

Zygote

The initial cell formed when a sperm cell fertilizes an egg cell, which will then undergo rapid division and growth to become an embryo.