The net income reported on the income statement for the current year was $79,000.Depreciation was $6,000.Account receivable and inventories decreased by $1,100 and $2,700, respectively.Prepaid expenses and accounts payable increased, respectively, by $950 and $3,000.How much cash was provided by operating activities?
A) $86,750
B) $90,850
C) $85,150
D) $83,250

Question

Quizplus · Accepted Answer

$79,000 + $6,000 + $1,100 + $2,700 - $950 + $3,000

The Net Income Reported on the Income Statement for the Current