Trenton reports net income of $230,000 for the year ended December 31,Year 2.It also reports $87,700 depreciation expense and a $5,000 gain on the sale of equipment.Its comparative balance sheet reveals a $35,500 decrease in accounts receivable,a $15,750 increase in accounts payable,and a $12,500 decrease in wages payable.Calculate the new cash provided (used)in operating activities using the indirect method.
A)$376,450.
B)$351,450.
C)$356,450.
D)$319,950.
E)$263,750.

Question

Quizplus · Accepted Answer

$230,000 + $87,700 + $35,500 + $15,750 - $12,500 - $5,000 = $351,450

Trenton Reports Net Income of $230,000 for the Year Ended