Carriveau Corporation's most recent balance sheet appears below: Net income for the year was $172.Cash dividends were $35.The company did not sell or retire any property,plant,and equipment during the year.The net cash provided by (used in)operating activities for the year was:
A)$183
B)$246
C)($11)
D)$161

Question

Carriveau Corporation's most recent balance sheet appears below:  Net income for the year was $172.Cash dividends were $35.The company did not sell or retire any property,plant,and equipment during the year.The net cash provided by (used in)operating activities for the year was:
A)$183 
B)$246 
C)($11) 
D)$161

Quizplus · Accepted Answer

To calculate the net cash provided by operating activities, we need to start with net income and then adjust for non-cash expenses and changes in current assets and liabilities.

Starting with net income of $172, we need to add back depreciation and amortization expenses of $42 and subtract the increase in accounts receivable of $13 and the increase in accounts payable of $40.

Net cash provided by operating activities = $172 + $42 - $13 - $40 = $161

Therefore, the correct answer is D, $161.

Carriveau Corporation's Most Recent Balance Sheet Appears Below: Net