During Year 2,Chico Company earned $1,950 of cash revenue,paid $1,600 of cash expenses,and paid a $150 cash dividend to its owners.Based on this information alone,which of the following statements is not true?

Question

Quizplus · Accepted Answer

Revenue minus expenses equal net income of $350 (calculated as $1,950 - $1,600).Total assets increased by $200 (calculated as $1,950 - $1,600 - $150).Cash from operating activities increased by $350 (calculated as $1,950 - $1,600).

During Year 2,Chico Company Earned $1,950 of Cash Revenue,paid $1,600