A company had net income of $230,000.Depreciation expense is $26,000.During the year accounts receivable and inventory increased $15,000 and $40,000, respectively.Prepaid expenses and accounts payable decreased $2,000 and $4,000, respectively.There was also a loss on the sale of equipment of $3,000.Using the indirect method, what is the amount of net cash flows from operating activities on the statement of cash flows?
A) $196,000
B) $202,000
C) $276,000
D) $288,000

Question

Quizplus · Accepted Answer

$230,000 + $26,000 - $15,000- $40,000 + $2,000 - $4,000 + $3,000

A Company Had Net Income of $230,000