For the year ended December 31, 2019, the Statement of Cash Flows for Mississippi Family Auto Supply shows the following information: Net Cash Used by Operating Activities, $(70,000); Net Cash Provided by Investing Activities, $48,000; and Net Cash Provided by Financing Activities, $42,000. Cash has increased by $169,000.

Question

Quizplus · Accepted Answer

The net change in cash would be the sum of the net cash used by operating activities, net cash provided by investing activities, and net cash provided by financing activities, which equals $(70,000) + $48,000 + $42,000 = $20,000, not $169,000.

For the Year Ended December 31, 2019, the Statement of Cash