Question: ssig ake Let's Do This, Inc. had an operating income of $35,000 for the year just ended. Balances in the company's current asset and current
ssig ake Let's Do This, Inc. had an operating income of $35,000 for the year just ended. Balances in the company's current asset and current liability accounts at the beginning and of the year were as follows Beginning Ending Cash Accounts Receivable Inventory Accounts Payable $30,000 $40,000 $125,000 $106,000 213,000 $180,000 $210,000 $195,000 The company reported $350,000 in Sales Revenue and a Gross Profit of $140,000. Depreciation expense totaled $8,000. Using the direct method, compute the company's cash flow from operating activies for the year. (Assume that all sales are made on account and that only inventory purchases are included in accounts payable.) O A. $80,000 O B. $51,000 O C. $87,000 O D. $177,000 O E. $125,000
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