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16. The accounting records of Miller Company provided the data below (S in 000s). Net...

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Accounting

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16. The accounting records of Miller Company provided the data below (S in 000s). Net income 17,500 Depreciation expense Increase in accounts receivable 4,400 Decrease in inventory Decrease in prepaid insurance 1,500 Decrease in salaries payable 2.700 Increase in interest payable 8,400 eceivable 6400 6.400 900 What is the net cash provided (used) by operating activities? A. $20,600 B. $27,600 C. $3,800 D. (S27,600) E. $41,800 17. (8 points) Spirit Company, a merchandiser,reently completed its 2010 calendar year. The company's balance sheet and income statement follow: SPIRIT COMPANY Comparative Balance Sheet December 31, 2010 and 2009 2010 2009 Assets Cash Accounts receivable Merchandise inventory Prepaid expenses Equipment Accum. depreciation-Equipment Total assets Liabilities and Equity Accounts payable Short-term notes payable Long-term notes payable Common stock, $5 par value $49.200 $ 73,500 65.830 51,000 276.000 252.500 1,000 1.600 159.000106,500 (31.000) (40,000) $520,030 $445,100 $ 112.000 9.000 7,000 65,000 48,500 162,750 150,750 S 58,555 Paid-in capital in excess of par, common36000 stock Retained earnings Total liabilities and equity 188,725 126,850 $520,030 $445,100

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