The Net Income for a Corporation for the Current Accounting

question 15

Multiple Choice

The net income for a corporation for the current accounting period was $275,000.Changes in various accounts during the period follow: $\begin{array}{|l|l|}\hline\text { Cash } & \$ 12,500 \text { increase } \\\hline\text { Investments in securities available for sale } & 40,000 \text { decrease } \\\hline \text { Accounts receivable } & 19,000 \text { increase } \\\hline \text { Inventories } & 8,000 \text { increase } \\\hline \text { Short-term prepayments } & 3,000 \text { decrease } \\\hline \text { Accounts payable } & 11,500 \text { increase } \\\hline \text { Accrued liabilities } & 2,200 \text { decrease } \\\hline \text { Notes payable to banks (due in nine months) } & 50,000 \text { increase }\\\hline\end{array}$ The cash provided by operations for the current period is:

• A)$275,000
• B)$260,300
• C)$350,300
• D)$309,550
• E)$278,340