The Net Income Reported on the Income Statement for the Current

question 111

Multiple Choice

The net income reported on the income statement for the current year was $440,000. Depreciation was $62,000. Accounts receivable and inventories decreased by $20,000 and $32,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $2,000 and $16,000. How much cash was provided by operating activities?

• A) $496,000.
• B) $568,000.
• C) $536,000.
• D) $436,000.