Question: Untitled Document Mark Industries' income statement and related notes for the year ended December 31 are as follows (in $). Sales 42,000,000 Cost of Goods

Untitled Document

Mark Industries' income statement and related notes for the year ended December 31 are as follows (in $).

Sales

42,000,000

Cost of Goods Sold

(32,000,000)

Wages Expense

(1,500,000)

Depreciation Expense

(2,500,000)

Interest Expense

(1,000,000)

Income Tax Expense

(2,000,000)

Net Income

3,000,000

During the year:

Wages Payable increased

.$100,000

Accumulated Depreciation increased

$2,500,000.

Interest Payable decreased

$200,000.

Income Taxes Payable increased

$500,000.

Dividends of

$100,000 were declared and paid.

Assuming U.S. GAAP, Mark Industries cash flow from operations (CFO) for the year ended December 31 was:

Group of answer choices

A. $5,900,000.

B. $4,800,000.

C. $4,400,000.

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