Morbeck Corporation's net income last year was $56,000.The company paid a cash dividend of $31,000 and did not sell or retire any property, plant, and equipment last year.Changes in selected balance sheet accounts for the year appear below: Based solely on this information, the net cash provided by (used in)operating activities under the indirect method on the statement of cash flows would be:
A)$83,000
B)$102,000
C)$29,000
D)$79,000

Question

Morbeck Corporation's net income last year was $56,000.The company paid a cash dividend of $31,000 and did not sell or retire any property, plant, and equipment last year.Changes in selected balance sheet accounts for the year appear below:  Based solely on this information, the net cash provided by (used in)operating activities under the indirect method on the statement of cash flows would be:
A)$83,000 
B)$102,000 
C)$29,000 
D)$79,000

Quizplus · Accepted Answer

11ea7998_5c16_8189_911b_9fca424c2964_TB2627_00_TB2627_00

Morbeck Corporation's Net Income Last Year Was $56,000