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question 120

Multiple Choice

[The following information applies to the questions displayed below.]
During the month of August,Boyce Company had the following transactions:
(1) Revenues of $120,000 were earned and received in cash.
(2) Bank loans of $18,000 were paid off.
(3) Equipment of $40,000 was purchased with cash.
(4) Expenses of $73,600 were paid.
(5) Stockholders purchased additional shares for $44,000 cash.
-A statement of cash flows for August would report net cash flows from operating activities of:

• A)$26,000.
• B)$32,400.
• C)$40,000.
• D)$46,400.

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