At the End of the First Year of Operations,the Balance

question 60

Multiple Choice

At the end of the first year of operations,the balance sheet of Midwood Medical Supply showed the following account balances: Accounts Receivable,$5,000;Accounts Payable,$6,000;Inventory,$3,000;and Unexpired Insurance,$2,000.The corporation reported net income of $79,000 for the year,including depreciation expense of $5,000,and uses the indirect method of computing net cash flow from operating activities.Solely on the basis of this information,net cash flow from operating activities is:

• A)$78,000.
• B)$82,000.
• C)$77,000.
• D)$80,000.

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