Question

Net income of Lucky Company was $52,000. The accounting records reveal depreciation expense of $99,000 as well as increases in prepaid rent, salaries payable, and income taxes payable of $74,000, $15,700, and $14,000, respectively. What is the net cash flow provided (used) by operating activities?
A. $254,700
B. $47,300
C. $195,300
D. $150,700
E. $106,700

Answer

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