Hocking Corporation's Comparative Balance Sheet Appears Below: the Company's

question 29

Multiple Choice

Hocking Corporation's comparative balance sheet appears below: The company's net income (loss) for the year was $10,000 and its cash dividends were $1,000. It did not sell or retire any property, plant, and equipment during the year. The company uses the indirect method to determine the net cash provided by operating activities
-The company's net cash provided by operating activities is:

• A)$47,000
• B)$51,000
• C)$43,000
• D)$24,000

---

Definitions:

Donee

The recipient of a gift or donation, who is typically not required to provide anything in return to the donor.

Incidental

Occurring as a minor accompaniment to something else or happening as a subordinate or secondary aspect.

Promisor

In a third-party beneficiary contract, the party to the contract who made the promise that benefits the third party.

Promisee

The person to whom a promise is made or who will benefit from the fulfillment of the promise in a contractual agreement.