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Question
Use the following information and the indirect method to calculate the net cash provided or used by operating activities:
| Cash paid for purchase of plant assets | $15,000 |
| Decrease in interest payable | 2,000 |
| Depreciation expense | 30,000 |
| Gain on retirement of bonds | 32,000 |
| Increase in accounts receivable | 40,000 |
| Loss on sale of plant assets | 5,000 |
| Net Income | 76,000 |
A. $22,000
B. $117,000
C. $69,000
D. $37,000
E. $91,000
Answer
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