Question

Wessen Company reports net income of $180,000 for the year ended December 31, 2013. It also reports $45,800 depreciation expense, $21,410 amortization expense, and a $15,000 gain on the sale of machinery. Its comparative balance sheets reveal a $28,300 increase in accounts receivable, $20,400 decrease in accounts payable, $10,470 increase in prepaid expenses, and $33,140 decrease in wages payable. What net cash flows are provided (used) by operating activities using the indirect method?
A. ($140,200)
B. $133,490
C. $139,900
D. ($133,490)
E. $78,300

Answer

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