Hot Stuff Hot Wings reported net income of $50,000 for the year.During the year, accounts receivable increased by $18,000, accounts payable decreased by $7,000 and depreciation expense of $10,000 was recorded.Net cash provided by operating activities for the year is

Question

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Net cash provided by operating activities is calculated by adjusting net income for changes in working capital and non-cash expenses. Starting with net income of $50,000, subtract the increase in accounts receivable ($18,000) and the decrease in accounts payable ($7,000), then add back the non-cash depreciation expense ($10,000). This results in $50,000 - $18,000 - $7,000 + $10,000 = $35,000. However, the correct calculation should be $50,000 - $18,000 - $7,000 + $10,000 = $35,000, which matches none of the options. Therefore, the correct answer should be $35,000, but based on the given options, $32,000 is the closest.

Hot Stuff Hot Wings Reported Net Income of $50,000 for the Year.During