The net income reported on the income statement for the current year was $275,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
A)$198,000
B)$324,000
C)$352,000
D)$296,000

Question

The net income reported on the income statement for the current year was $275,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
A)$198,000 
B)$324,000 
C)$352,000 
D)$296,000

Quizplus · Accepted Answer

The Answer of The net income reported on the income statement for the current year was $275,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:

What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
A)$198,000 
B)$324,000 
C)$352,000 
D)$296,000

The Net Income Reported on the Income Statement for the Current