Net income reported for the current year was $222,000. Depreciation expense was $35,000. Accounts Receivable and Inventories increased $4,000 and $7,000, respectively. Prepaid Expenses and Accounts Payable decreased $3,000 and $9,000, respectively. Using the indirect method, how much cash was provided by operating activities?
A) $170,000
B) $180,000
C) $240,000
D) $258,000

Question

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The Answer of Net income reported for the current year was $222,000. Depreciation expense was $35,000. Accounts Receivable and Inventories increased $4,000 and $7,000, respectively. Prepaid Expenses and Accounts Payable decreased $3,000 and $9,000, respectively. Using the indirect method, how much cash was provided by operating activities?
A) $170,000
B) $180,000
C) $240,000
D) $258,000

Net Income Reported for the Current Year Was $222,000