Garret Company Has Provided the Following Selected Information for the Year

question 57

Multiple Choice

Garret Company has provided the following selected information for the year ended December 31,2019: Cash collected from customers was $783,000.
Cash received from stockholders in exchange for common stock totaled $91,000.
Cash paid to suppliers was $361,000.
Cash paid to employees was $204,000.
Cash to stockholders for dividends was $33,000.
Cash received from sale of a building was $250,000.
Cash paid for store rent was $39,000.
Cash received for interest and dividends was $7,000.
Cash paid for income taxes was $55,000.

Based on the selected information provided,how much was Garret's cash flow from operating activities?

• A)$131,000.
• B)$98,000.
• C)$381,000.
• D)$222,000.

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Definitions:

Supply Curve

A graph showing the relationship between product price and quantity of product that a seller is willing and able to supply.

Quantity Supplied

The amount of a certain good or service that producers are willing to supply at a given price.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, inversely related to the consumer's income.

Complementary Good

A product that is consumed with another product, where demand for one increases demand for the other.