Exam III $($i$)$

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The comparative balance sheets of Atlas, Incorporated show a net increase in inventory of $$78,000$ and a net decrease in accounts payable of $$41,500$ during Year $2.$ In computing net cash flows from operating activities under the indirect method, net income for Year $2$ should be:

$01$:$33$:$54$

Multiple Choice

Increased by a total of $$119,500.$

Reduced by a total of $$36,500.$

Reduced by a total of $$119,500.$ Sili

Increased by a total of $$36,500.$The comparative balance sheets of Atlas, Incorporated show a net increase in inventory of $$78,000$ and a net decrease in accounts payable of $$41,500$

during Year $2.$ In computing net cash flows from operating activities under the indirect method, net income for Year $2$ should be: