Cotton Corp. reported net income of $420,000 for 2011. Changes occurred in several balance sheet accounts as follows:

Additional information:

In Cotton's 2011 statement of cash flows, net cash used in investing activities should be
A) $2,800.
B) $16,800.
C) $30,800.
D) $49,000.

Question

Cotton Corp. reported net income of $420,000 for 2011. Changes occurred in several balance sheet accounts as follows:

Additional information:

In Cotton's 2011 statement of cash flows, net cash used in investing activities should be
A) $2,800. 
B) $16,800. 
C) $30,800. 
D) $49,000.

Quizplus · Accepted Answer

The Answer of Cotton Corp. reported net income of $420,000 for 2011. Changes occurred in several balance sheet accounts as follows:

Additional information:

In Cotton's 2011 statement of cash flows, net cash used in investing activities should be
A) $2,800. 
B) $16,800. 
C) $30,800. 
D) $49,000.