Question: An analyst compiled the following information for U Incorporated for the year ended December 3 1 , 2 0 2 4 : Net income was

An analyst compiled the following information for U Incorporated for the year ended December 31,2024:
Net income was $1,920,000.
Depreciation expense was $510,000.
Interest paid was $255,000.
Income taxes paid were $127,500.
Common stock was sold for $222,000.
Preferred stock (8% annual dividend) was sold at par value of $272,000.
Common stock dividends of $72,000 were paid.
Preferred stock dividends of $21,760 were paid.
Equipment with a book value of $122,000 was sold for $244,000.
Using the indirect method, what was U Incorporated's net cash flow from operating activities for the year ended December 31,2024?
Multiple Choice
$2,358,240
$2,430,240
$2,308,000
$2,430,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!