Question: Use the indirect method to answer the question. The following information is available for Felix Company: Net income $300 Depreciation expense 20 Gain on sale

Use the indirect method to answer the question. The following information is available for Felix Company: Net income $300 Depreciation expense 20 Gain on sale of assets 35 Increase in inventories 25 Decrease in plant and equip $40 Increase in deferred tax asset 5 Decrease in long term debt 50 Decrease in accounts payable 15 What is cash from financing activities for Felix Company? A $50 B $65 C $(50) D $60

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