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

C)
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Felix Skateboards Company Uses the Indirect Method to Prepare the Statement