Felix Skateboards Company Uses the Indirect Method to Prepare the Statement

question 56

Multiple Choice

Felix Skateboards Company uses the indirect method to prepare the statement of cash flows.Refer to the following income statement:

Additional information provided by the company includes the following:
1.Current assets,other than cash,increased by $21,000.
2.Current liabilities decreased by $1,500.
Compute the net cash provided by (used for) operating activities.

• A)$26,200
• B)$40,200
• C)$34,700
• D)$12,500

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