Exhibit 12-3
Stalwart Inc.accounting records show the following changes during the company's most recent fiscal year.1.Gain on sale of2.Loss on sale of long-term investments3.Decrease in prepaid expenses4.Increase in accounts receivable5.Decrease in merchandise inventory6.Decrease in wages payable7.Increase in accounts payable8.Payment of cash dividends9.Purchase of machinery10.Payments of principal on bonds payable10.Payments of principal on bonds payable
-Refer to Exhibit 12-3.Which of these would be deducted from net income as part of the operating activities
A) 2,3,5,7,8,& 10
B) 1,4,& 6
C) 2,3,5,& 7
D) 3,4,5,6,& 7
E) None of the answer choices is correct.
Correct Answer:
Verified
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Stalwart Inc. accounting records show the
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