Net income reported for the current year was $100,000. Depreciation expense was $25,000. Accounts Receivable and Inventories decreased $5,000 and $15,000, respectively. Prepaid Expenses and Accounts Payable increased, respectively, by $500 and $4,000. Using the indirect method, how much cash was provided by operating activities?
A) $101,500
B) $123,500
C) $140,500
D) $148,500

Question

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The Answer of Net income reported for the current year was $100,000. Depreciation expense was $25,000. Accounts Receivable and Inventories decreased $5,000 and $15,000, respectively. Prepaid Expenses and Accounts Payable increased, respectively, by $500 and $4,000. Using the indirect method, how much cash was provided by operating activities?
A) $101,500
B) $123,500
C) $140,500
D) $148,500

Net Income Reported for the Current Year Was $100,000