Optics Company uses the direct method for preparing its statement of cash flow.Optics reports the following information regarding 2019: From the income statement:
Sales Revenues,$266,000
Cost of Goods Sold,$212,000
Operating Expenses,$37,000
Net Income $17,000
From the balance sheet:
Assume that there were no sales of long-term assets,no interest revenue,and no expenses other than the expenses shown above.Also,assume that Accounts Payable are for purchases of merchandise inventory only.Accrued liabilities relate to operating expenses.What amount will be shown for the net cash provided by operating activities?
A)$64,300
B)$24,300
C)$17,000
D)$9300

Question

Optics Company uses the direct method for preparing its statement of cash flow.Optics reports the following information regarding 2019: From the income statement:
Sales Revenues,$266,000
Cost of Goods Sold,$212,000
Operating Expenses,$37,000
Net Income $17,000
From the balance sheet:
 Assume that there were no sales of long-term assets,no interest revenue,and no expenses other than the expenses shown above.Also,assume that Accounts Payable are for purchases of merchandise inventory only.Accrued liabilities relate to operating expenses.What amount will be shown for the net cash provided by operating activities?
A)$64,300 
B)$24,300 
C)$17,000 
D)$9300

Quizplus · Accepted Answer

11ea8a75_4297_9b0d_a2a1_6d8d5a258f5a_TB6701_00 11ea8a75_4297_9b0e_a2a1_6986a98de06a_TB6701_00 11ea8a75_4297_c21f_a2a1_072ab55cfd91_TB6701_00 11ea8a75_4297_c220_a2a1_fd4b2f63f542_TB6701_00

Optics Company Uses the Direct Method for Preparing Its Statement