Carpet World Inc If Carpet World Uses the Indirect Method to Prepare the \begin{array}{lrr}&2017&2018\\
\text

question 102

Multiple Choice

Carpet World Inc.reported the following information for 2017 and 2018: $\begin{array}{lrr}&2017&2018\\\text { Accounts receivable } & \$ 51,000 & \$ 57,000 \\\text { Inventories } & 42,000 & 39,000 \\\text { Accounts payable } & 43,000 & 48,000 \\\text { Net income } & & 60,000 \\\text { Depreciation expense } & & 8,000\end{array}$ If Carpet World uses the indirect method to prepare the Operating Activities section of the statement of cash flows,what amount will be reported as net cash inflow from operating activities for 2018?

• A)$64,000
• B)$66,000
• C)$68,000
• D)$70,000

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Definitions:

Colonialism

The act of gaining complete or partial political dominance over another nation, settling it with inhabitants, and using it for economic benefit.

Epidemics

Widespread occurrences of infectious diseases within a community or region over a specific period of time.

Language Family

A group of languages descended from a single ancestral language.