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The Following Additional Information Is Available from the Financial Statements

Question 89

Multiple Choice

The following additional information is available from the financial statements of Garfield Industries:  Amortization Expense $3,000 Purchase of building for cash 270,000 Depreciation Expense 108,000 Increase in Accounts Receivable 30,000 Increase in Bonds Payable 500,000 Increase in Common Stock 120,000 Increase in Inventory 86,000 Decrease in Accounts Payable 136,000 Increase in Salaries and Wages Payable 50,000 Cash dividends paid 200,000 Net income 584,000\begin{array}{lr}\text { Amortization Expense } & \$ 3,000 \\\text { Purchase of building for cash } & 270,000 \\\text { Depreciation Expense } & 108,000 \\\text { Increase in Accounts Receivable } & 30,000 \\\text { Increase in Bonds Payable } & 500,000 \\\text { Increase in Common Stock } & 120,000 \\\text { Increase in Inventory } & 86,000 \\\text { Decrease in Accounts Payable } & 136,000 \\\text { Increase in Salaries and Wages Payable } & 50,000 \\\text { Cash dividends paid } & 200,000 \\\text { Net income } & 584,000\end{array} What is Garfield's net cash provided by operating activities?


A) $526,000
B) $570,000
C) $792,000
D) $736,000

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