Mullinix Inc. reported the following information: net income, $40,000; decrease in accounts receivable, $10,000; decrease in accounts
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Question:
Mullinix Inc. reported the following information: net income, $40,000; decrease in accounts receivable, $10,000; decrease in accounts payable, $8,000; and depreciation expense, $6,000. What amount did Mullinix report as cash flow from operating activities on its statement of cash flows?
a. $16,000
b. $36,000
c. $48,000
d. $64,000
Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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