Question: Net cash flow from operating activities for the year was $450,000. The following items are reported in the financial statements: Cash dividends paid on common

Net cash flow from operating activities for the year was $450,000.

The following items are reported in the financial statements: Cash dividends paid

Net cash flow from operating activities for the year was $450,000. The following items are reported in the financial statements: Cash dividends paid on common stock $20,000 Depreciation and amortization 12,000 Increase in accounts receivable 24,000 Based on the information above, net income for the year was

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