Question: Ohio, Inc. uses the indirect method to prepare the Statement of Cash Flows. Refer to the following Income Statement: Ohio, Inc. Income Statement Year Ended

Ohio, Inc. uses the indirect method to prepare the Statement of Cash Flows. Refer to the following Income Statement: Ohio, Inc. Income Statement Year Ended December 31, 2025 Revenues and Gains: Sales Revenue $160,000 Interest Revenue 6,700 Total Revenues and Gains $166,700 Expenses and Losses: Cost of Goods Sold $130,000 Salary Expense 20,000 Depreciation Expense 7,300 Other Operating Expenses 13,300 Interest Expense 16, 100 Loss on Sale of Plant Assets 5,400 Income Tax Expense 5,600 Total Expenses and Losses 197,700 Net Income (Loss) $(31,000) Additional information provided by the company includes the following: Current assets, other than cash, decreased by $5, 100. Current liabilities increased by $2,200. Compute the net cash provided by (used for) operating activities. O A. $(38,300) O B. $16,400 O C. $(11,000) O D. $10,500

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!