Justice Corporation's net income for the current year was $510,000.Depreciation recorded on plant assets was $76,000.Accounts receivable and inventories increased by $40,000 and $16,000, respectively.Supplies and accounts payable decreased by $2,000 and $32,000, respectively.A $500,000 convertible bond was retired through the issuance of common stock.How much cash was provided by operating activities?
A)$480,000.
B)$500,000.
C)$464,000.
D)$672,000.

Question

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The Answer of Justice Corporation's net income for the current year was $510,000.Depreciation recorded on plant assets was $76,000.Accounts receivable and inventories increased by $40,000 and $16,000, respectively.Supplies and accounts payable decreased by $2,000 and $32,000, respectively.A $500,000 convertible bond was retired through the issuance of common stock.How much cash was provided by operating activities?
A)$480,000.
B)$500,000.
C)$464,000.
D)$672,000.

Justice Corporation's Net Income for the Current Year Was $510,000