Fluck Corporation's balance sheet and income statement appear below: The company sold equipment for $12 that was originally purchased for $5 and that had accumulated depreciation of $3. The company paid a cash dividend and it did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided by (used in)operating activities for the year was:
A)$106
B)$85
C)$95
D)$111

Question

Fluck Corporation's balance sheet and income statement appear below:    The company sold equipment for $12 that was originally purchased for $5 and that had accumulated depreciation of $3. The company paid a cash dividend and it did not issue any bonds payable or repurchase any of its own common stock.
-The net cash provided by (used in)operating activities for the year was:
A)$106 
B)$85 
C)$95 
D)$111

Quizplus · Accepted Answer

The net cash provided by (used in) operating activities for the year was $85. This is calculated by taking the net income of $100 and adding back the non-cash expenses of $15.

Fluck Corporation's Balance Sheet and Income Statement Appear Below