A company had net income of $1,395,000 in 2019. Depreciation expense is $156,000. During the year, Accounts Receivable and Inventory increased $90,000 and $240,000, respectively. Prepaid Expenses and Accounts Payable decreased $12,000 and $24,000, respectively. There was also a loss on the sale of equipment of $18,000.
How much cash was provided by operating activities in 2019?
A) $1,176,000
B) $1,227,000
C) $1,656,000
D) $1,728,000
Correct Answer:
Verified
Q14: Use the following information to answer:
Herman Corporation
Q15: Use the following information to answer:
Herman Corporation
Q16: Use the following information to answer:
Herman Corporation
Q17: Consider the following:
•Net income, $285,000
•Depreciation Expense $33,000
•Increase
Q18: Consider the following:
•Net income, $380,000
•Depreciation Expense $44,000
•Increase
Q20: A company had net income of $1,860,000
Q21: Andrew Company's financial statements show a net
