Cumberbatch, Inc. presented the following information: Statement of Cash Flow Indirect Method Operating activities...
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Accounting
Cumberbatch, Inc. presented the following information:
Statement of Cash Flow Indirect Method Operating activities
Net income $10,200
Depreciation expense 3,750
Accounts receivable 1,100
Inventory (2,050 )
Accounts payable 1,000
Cash flow from operations $14,000
Income Statement Sales $99,000
Cost of goods sold 55,500
Depreciation expense 3,750
Other operating expenses 22,800
Income taxes expense 6,750
Net income $10,200
How much cash was paid for inventory in the operating activities section of the statement of cash flow using the direct method?
How much cash was paid for inventory in the operating activities section of the statement of cash flow using the direct method? A. $56,550 B. $54,450 C. $55,500 D. $57,050
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