A Company's Income Statement Showed the Following: Net Income, $124,000;

question 148

Multiple Choice

A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.

• A) $139,000.
• B) $141,000.
• C) $145,800.
• D) $155,000.
• E) $167,000.

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Definitions:

Workplace Spirituality

A framework that integrates one's personal beliefs, values, and practices into their professional life, often leading to improved job satisfaction and productivity.

Core Values

Fundamental beliefs or principles that guide an organization's actions and decision-making processes.

Value-Based Management

A management approach that focuses on maximizing shareholder value through strategic decision making aligned with organizational goals.

Market Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, leading to a stable market condition where there is no tendency for price to change.