Profit reported for the current year was $100,000.Depreciation expense was $25,000.Accounts Receivable and Inventories decreased $5,000 and $15,000, respectively.Prepaid Expenses and Accounts Payable increased, respectively, by $500 and $4,000.Using the indirect method, how much cash was provided by operating activities?

Question

Quizplus · Accepted Answer

The Answer of Profit reported for the current year was $100,000.Depreciation expense was $25,000.Accounts Receivable and Inventories decreased $5,000 and $15,000, respectively.Prepaid Expenses and Accounts Payable increased, respectively, by $500 and $4,000.Using the indirect method, how much cash was provided by operating activities?

Profit Reported for the Current Year Was $100,000