The following data relate to Sorrentino Corporation for last year: What is the net cash provided by operating activities for last year on the statement of cash flows for Sorrentino Corporation?
A)$229,000
B)$171,800
C)$151,800
D)$211,800

Question

The following data relate to Sorrentino Corporation for last year:  What is the net cash provided by operating activities for last year on the statement of cash flows for Sorrentino Corporation?
A)$229,000 
B)$171,800 
C)$151,800 
D)$211,800

Quizplus · Accepted Answer

The net cash provided by operating activities is calculated by adding the net income to the adjustments for non-cash items (such as depreciation and changes in current assets and liabilities). In this case, the net income is $200,000 and there are $11,800 of adjustments for non-cash items. Therefore, the net cash provided by operating activities is $211,800.

The Following Data Relate to Sorrentino Corporation for Last Year