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

This answer is hidden. It contains 212 characters.