In Preparing a Company's Statement of Cash Flows for the Most

question 77

Short Answer

In preparing a company's statement of cash flows for the most recent year using the indirect method, the following information is available: $\begin{array}{lr}\text { Net income for the year was } & \$ 52,000 \\\hline \text { Accounts payable increased by } & 18,000 \\\hline \text { Accounts receivable decreased by } & 25,000 \\\hline\text { Inventories decreased by } & 5,000 \\\hline \text { Cash dividends paid were } & 14,000 \\\hline \text { Depreciation expense was } & 20,000\end{array}$
Net cash provided by operating activities was:
A) $\$ 120,000$ .
B) $\$ 110,000$ .
C) $\$ 71,000$ .
D) $\$ 70,000$ .
E) $\$ 24,000$ .

• A) \( \$ 120,000 \).
• B) \( \$ 110,000 \).
• C) \( \$ 71,000 \).
• D) \( \$ 70,000 \).
• E) \( \$ 24,000 \).

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