A company had net income of $1,860,000 in 2019. Depreciation expense is $208,000. During the year, Accounts Receivable and Inventory increased $120,000 and $320,000, respectively. Prepaid Expenses and Accounts Payable decreased $16,000 and $32,000, respectively. There was also a loss on the sale of equipment of $24,000.
How much cash was provided by operating activities in 2019?
A) $1,568,000
B) $1,636,000
C) $2,208,000
D) $2,476,000
Correct Answer:
Verified
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
Q19: A company had net income of $1,395,000
Q21: Andrew Company's financial statements show a net
