The Information Below Was Obtained from the Financial Statements of Faraday

question 30

Multiple Choice

The information below was obtained from the financial statements of Faraday Corp.Based on this information,what was the amount of the net cash provided by operating activities during the current year? $\begin{array}{lrr} & \text { Prior Year } & \text { Current Year } \\\text { Net Income } & \$ 500,000 & \$ 655,000 \\\text { Depreciation Expense } & 60,000& 72,000 \\\text { Accounts Receivable } & 89,000& 78,000 \\\text { Inventory } & 116,000 & 142,000 \\\text { Accounts Payable } & 120,000& 117,000 \\\text { Salaries and Wages Payable } & 56,000 & 68,000\end{array}$

• A)$713,000
• B)$721,000
• C)$661,000
• D)$637,000

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Definitions:

Homeostasis

The process by which living organisms regulate their internal environment to maintain stable, life-supporting conditions.

Constant Internal State

The concept of maintaining a stable, consistent internal environment in an organism, also known as homeostasis.

An Instinct

An innate, typically fixed pattern of behavior in animals in response to certain stimuli that is unlearned.

An Instinct

A fixed, innate pattern of behavior in animals in response to certain stimuli.