Orebic Department Store had net income of $642,000 for the year just ended. Orebic collected the following additional information to prepare its statement of cash flows for the year:
Orebic uses the indirect method to prepare its statement of cash flows. What is Orebic's net cash provided (used) by operating activities?
A) $518,000
B) $588,000
C) $838,000
D) $870,000

Question

Orebic Department Store had net income of $642,000 for the year just ended. Orebic collected the following additional information to prepare its statement of cash flows for the year: 
Orebic uses the indirect method to prepare its statement of cash flows. What is Orebic's net cash provided (used) by operating activities?
A) $518,000 
B) $588,000 
C) $838,000 
D) $870,000

Quizplus · Accepted Answer

The Answer of Orebic Department Store had net income of $642,000 for the year just ended. Orebic collected the following additional information to prepare its statement of cash flows for the year: 
Orebic uses the indirect method to prepare its statement of cash flows. What is Orebic's net cash provided (used) by operating activities?
A) $518,000 
B) $588,000 
C) $838,000 
D) $870,000

Orebic Department Store Had Net Income of $642,000 for the Year