Edgar Inc. reported net income for calendar 2020 of $ 3,500,000. Additional information follows: $\begin{array}{l}
\text { Impair ment of goodwill } &\$30,000 \
\text { Depreciation on plant assets }
&1,100,000\
\text { Long-term debt: }\
\text { Bond premium amortized}&45,000\
\text { Interest expense}&600,000\
\text { Bad debt s expense}&75,000
\end{array}$ Based on the above information, the cash provided by operating activities (indirect method) for calendar 2020 is
A) $ 4,750,000.
B) $ 4,730,000.
C) $ 4,715,000.
D) $ 4,660,000.

Question

Edgar Inc. reported net income for calendar 2020 of $ 3,500,000. Additional information follows: $\begin{array}{l}
\text { Impair ment of goodwill  } &\$30,000 \
\text { Depreciation on plant assets }
&1,100,000\
\text { Long-term debt: }\
\text { Bond premium amortized}&45,000\
\text { Interest expense}&600,000\
\text { Bad debt s expense}&75,000
\end{array}$ Based on the above information, the cash provided by operating activities (indirect method) for calendar 2020 is
A) $ 4,750,000.
B) $ 4,730,000.
C) $ 4,715,000.
D) $ 4,660,000.

Quizplus · Accepted Answer

The Answer of Edgar Inc. reported net income for calendar 2020 of $ 3,500,000. Additional information follows: $\begin{array}{l}
\text { Impair ment of goodwill  } &\$30,000 \
\text { Depreciation on plant assets }
&1,100,000\
\text { Long-term debt: }\
\text { Bond premium amortized}&45,000\
\text { Interest expense}&600,000\
\text { Bad debt s expense}&75,000
\end{array}$ Based on the above information, the cash provided by operating activities (indirect method) for calendar 2020 is
A) $ 4,750,000.
B) $ 4,730,000.
C) $ 4,715,000.
D) $ 4,660,000.

Edgar Inc Reported Net Income for Calendar 2020 of $ 3,500,000