Question: An analyst compiled the following information for U Inc. for the year ended December 31, 2021: . Net income was $1,720,000. Depreciation expense was $410,000.
An analyst compiled the following information for U Inc. for the year ended December 31, 2021: . Net income was $1,720,000. Depreciation expense was $410,000. . Interest paid was $205,000 Income taxes paid were $102,500. . Common stock was sold for $202,000. Preferred stock (8% annual dividend) was sold at par value of $252,000. . Common stock dividends of $52,000 were paid. Preferred stock dividends of $20,160 were paid. Equipment with a book value of $102,000 was sold for $204,000. Using the indirect method, what was U Inc.'s net cash flow from operating activities for the year ended December 31, 2021? Multiple Choice $2,028,000. $2,059,840 $2.111,840
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