Hardey Corporation's balance sheet and income statement appear below: Cash dividends were $8. The company sold equipment for $13 that was originally purchased for $8 and that had accumulated depreciation of $8.
-The net cash provided by (used by) operations for the year was:
A) $50
B) $93
C) $80
D) $88

Question

Hardey Corporation's balance sheet and income statement appear below:   Cash dividends were $8. The company sold equipment for $13 that was originally purchased for $8 and that had accumulated depreciation of $8.
-The net cash provided by (used by) operations for the year was:
A) $50 
B) $93 
C) $80 
D) $88

Quizplus · Accepted Answer

The correct answer is $80, which represents the net cash provided by or used by operations for the year.

Hardey Corporation's Balance Sheet and Income Statement Appear Below