Wyman Co. reported $26,000 of cash provided by operating activities and the following data: $$\begin{array} { | l | r | }
\hline \text { Amortization } & \$ 45,000 \
\hline \text { Increase in accounts payable } & 12,000 \
\hline \text { Increase in wages payable } & 8,000 \
\hline \text { Decrease in taxes payable } & 2,000 \
\hline
\end{array}$$ Wyman's net income/loss for the period was
A) $37,000 loss
B) $12,000 loss
C) $10,000 net income
D) $54,000

Question

Wyman Co. reported $26,000 of cash provided by operating activities and the following data: $$\begin{array} { | l | r | } 
\hline \text { Amortization } & \$ 45,000 \
\hline \text { Increase in accounts payable } & 12,000 \
\hline \text { Increase in wages payable } & 8,000 \
\hline \text { Decrease in taxes payable } & 2,000 \
\hline
\end{array}$$ Wyman's net income/loss for the period was
A) $37,000 loss
B) $12,000 loss
C) $10,000 net income
D) $54,000

Quizplus · Accepted Answer

The Answer of Wyman Co. reported $26,000 of cash provided by operating activities and the following data: $$\begin{array} { | l | r | } 
\hline \text { Amortization } & \$ 45,000 \
\hline \text { Increase in accounts payable } & 12,000 \
\hline \text { Increase in wages payable } & 8,000 \
\hline \text { Decrease in taxes payable } & 2,000 \
\hline
\end{array}$$ Wyman's net income/loss for the period was
A) $37,000 loss
B) $12,000 loss
C) $10,000 net income
D) $54,000

Wyman Co Reported $26,000 of Cash Provided by Operating Activities and and the Following