Question: Felix Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Additional information provided by the company
Felix Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Additional information provided by the company includes the following:
Sale Revenue $245,000
Interest Revenue 2,000
Gain on Sale of Plant Assets 5,000
Total Revenues and Gains $252,000
Cost of Goods Sold 118,000
Salary Expense 43,000
Depreciation Expense 13,00
Other Operating Expense 25,000
Interest Expense 1,500
Income Tax Expense 5,500
Total Expenses 206,000
Net Income (loss) $46,000
1) Current assets, other than cash, increased by $24,000 2) Current liabilities decreased by $1,000 How much is the net cash provided by operating activities? A) $21,000 B) $34,000 C) $29,000 D) $39,000
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