5. When using the indirect method to prepare the statement of cash flows, depreciation expense should be presented as a(n): A) investing and financing activity not affecting cash. B) addition to net income. C) deduction from net income. D) cash flow from financing activities. E) cash flow from investing activities. 6. McGill Company recorded the following events for the year just ended. What was the net cash provided (used) by investing activities during the year? A) ($5,000) B) $10,000 C) $40,000 D) $260,000 7. McGill Company recorded the following events for the year just ended. (Note that this is the same data that was provided for the previous question.) What was the net cash used by financing activities during the year? A) $70,000 B) $90,000 C) $190,000 D) $280,000 8. Korsak Company recorded the following activity for the year just ended: The net cash provided by investing activities for the year was: A) $560,000. B) $760,000 C) $800,000 D) $820,000 9. Korsak Company recorded the following activity for the year just 5. When using the indirect method to prepare the statement of cash flows, depreciation expense should be presented as a(n): A) investing and financing activity not affecting cash. B) addition to net income. C) deduction from net income. D) cash flow from financing activities. E) cash flow from investing activities. 6. McGill Company recorded the following events for the year just ended. What was the net cash provided (used) by investing activities during the year? A) ($5,000) B) $10,000 C) $40,000 D) $260,000 7. McGill Company recorded the following events for the year just ended. (Note that this is the same data that was provided for the previous question.) What was the net cash used by financing activities during the year? A) $70,000 B) $90,000 C) $190,000 D) $280,000 8. Korsak Company recorded the following activity for the year just ended: The net cash provided by investing activities for the year was: A) $560,000. B) $760,000 C) $800,000 D) $820,000 9. Korsak Company recorded the following activity for the year just