Mast Company reports net income of $340,000 for the year ended December 31. It also reports $111,900 depreciation expense and a $12,100 loss on the sale of equipment. Its comparative balance sheet reveals a $48,600 increase in accounts receivable, a $12,300 decrease in prepaid expenses, a $18,700 increase in accounts payable, and a $15,300 decrease in wages payable. Calculate the net increase in cash for the year.

Multiple Choice

• $310,100.

• $340,700.

• $321,800.

• $431,100.

• $231,800.

Answer rating: 100% (QA)

Cash Flows From Operating Activities Net Income Adjustments to r... View the full answer