Information from Zurich Company's income statement is as follows: net income $15,600, depreciation expense $11,800; gain on sale of equipment $3,000; proceeds from the sale of land
$22,000. The net cash provided by operating activities is:

Question

Quizplus · Accepted Answer

To calculate net cash provided by operating activities, we need to start with net income and adjust for any non-cash expenses or gains/losses. Here's the calculation:

Net income = $15,600
Add back depreciation expense = $11,800
Subtract gain on sale of equipment = -$3,000

This gives us a total of $24,400, which is the net cash provided by operating activities. Therefore, the correct answer choice is C.

Information from Zurich Company's Income Statement Is as Follows: Net