Net cash flow from operating activities for 2008 for Fordham Corporation was $300,000. The following items are reported on the financial statements for 2008:
Based on the information above, Fordham's net income for 2008 was
A) $312,000.
B) $296,000.
C) $264,000.
D) $256,000.

Question

Net cash flow from operating activities for 2008 for Fordham Corporation was $300,000. The following items are reported on the financial statements for 2008:
 Based on the information above, Fordham's net income for 2008 was
A) $312,000. 
B) $296,000. 
C) $264,000. 
D) $256,000.

Quizplus · Accepted Answer

X + $12,000 - $24,000 = $300,000; X = $312,000.

Net Cash Flow from Operating Activities for 2008 for Fordham