Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000.
2) Current liabilities decreased by $1,500.
Compute the net cash provided by (used for) operating activities.
A) $26,200
B) $40,200
C) $34,700
D) $12,500

Question

Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:  Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000.
2) Current liabilities decreased by $1,500.
Compute the net cash provided by (used for) operating activities.
A) $26,200 
B) $40,200 
C) $34,700 
D) $12,500

Quizplus · Accepted Answer

The Answer of Felix Skateboards Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:  Additional information provided by the company includes the following: 1. Current assets, other than cash, increased by $21,000.
2) Current liabilities decreased by $1,500.
Compute the net cash provided by (used for) operating activities.
A) $26,200 
B) $40,200 
C) $34,700 
D) $12,500

Felix Skateboards Company Uses the Indirect Method to Prepare the Statement