Salsedo Corporation's Balance Sheet and Income Statement Appear Below

question 104

Multiple Choice

Salsedo Corporation's balance sheet and income statement appear below: Cash dividends were $9.The company sold equipment for $15 that was originally purchased for $10 and that had accumulated depreciation of $5.It did not issue any bonds payable or repurchase any of its own common stock. The net cash provided by (used in) operating activities for the year was:

• A)$60
• B)$95
• C)$94
• D)$85

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Definitions:

Alternator

An electrical generator that converts mechanical energy to electrical energy in the form of alternating current.

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A device that changes the form of an electrical signal or power source, such as converting alternating current (AC) to direct current (DC).

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A famous engraving by Paul Revere that depicted the 1770 Boston Massacre, which played a significant role in galvanizing public sentiment against British rule in the American colonies.

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