Question: Please answer this question quick (will like up :)) The net income reported on the income statement for the current year was $290,887. Depreciation recorded
The net income reported on the income statement for the current year was $290,887. Depreciation recorded on fixed assets and amortization of patents for the year were $32,798, and $11,900, respectively, Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $35,443 $57,533 Accounts receivable 122,869 107,672 Inventories 101,463 84,179 Prepaid expenses 3,226 8,816 Accounts payable (merchandise creditors) 56,896 61,360 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Oa. $343,140 Ob. $366.940 Oc. $238,634 Od. $304,230
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
