Harbor Company reported net income of $90,000 for the year ended December 31, 2010. During the year, inventories decreased by $12,000, accounts payable decreased by $18,000, depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded. Net cash provided by operating activities in 2010 using the indirect method was
A) $149,000.
B) $95,000.
C) $107,000.
D) $85,000.

Question

Quizplus · Accepted Answer

The Answer of Harbor Company reported net income of $90,000 for the year ended December 31, 2010. During the year, inventories decreased by $12,000, accounts payable decreased by $18,000, depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded. Net cash provided by operating activities in 2010 using the indirect method was
A) $149,000.
B) $95,000.
C) $107,000.
D) $85,000.

Harbor Company Reported Net Income of $90,000 for the Year