Postma Corporation's balance sheet and income statement appear below:

Cash dividends were $29. The company sold equipment for $19 that was originally purchased for $14 and that had accumulated depreciation of $11. The net cash provided by (used by) operations for the year was:
A) $177
B) $148
C) $164
D) $168

Question

Postma Corporation's balance sheet and income statement appear below:

Cash dividends were $29. The company sold equipment for $19 that was originally purchased for $14 and that had accumulated depreciation of $11. The net cash provided by (used by) operations for the year was:
A) $177 
B) $148 
C) $164 
D) $168

Quizplus · Accepted Answer

The Answer of Postma Corporation's balance sheet and income statement appear below:

Cash dividends were $29. The company sold equipment for $19 that was originally purchased for $14 and that had accumulated depreciation of $11. The net cash provided by (used by) operations for the year was:
A) $177 
B) $148 
C) $164 
D) $168

Postma Corporation's Balance Sheet and Income Statement Appear Below