The net cash provided by operating activities in Otto Company's statement of cash flows for 2008 was $115,000. For 2008, depreciation on plant assets was $45,000, amortization of patent was $8,000, and cash dividends paid on common stock was $54,000. Based only on the information given above, Otto's net income for 2008 was
A) $115,000.
B) $62,000.
C) $8,000.
D) $116,000.
Correct Answer:
Verified
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