The net income reported on the income statement for the current year was $541000. Depreciation...

80.2K

Verified Solution

Question

Accounting

The net income reported on the income statement for the current year was $541000. Depreciation recorded on plant assets was $81000. Accounts receivable and inventories increased by $42000 and $17000, respectively. Prepaid expenses and accounts payable decreased by $2000 and $34000, respectively. How much cash was provided by operating activities?

510000

531000

493000

713000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students