hapters 8-13) 2 hours G Saved Help Save & Exit S A company\'s income statement s

Question

hapters 8-13) 2 hours G Saved Help Save & Exit S A company's income statement showed the following: net income, $125,000; depreciation expense, $35,500; and gain on sale of plant assets, $9,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,500, merchandise inventory increased $23,500; prepaid expenses increased $7,300; accounts payable increased $4,500. Calculate the net cash provided or used by operating activities. Multiple Choice $147,800. $135,200

Explanation / Answer

Net income $125,000 Depreciation expense $35,500 Gain on sale of plant assets ($9,500) Decrease in accounts receivable $10,500 Increase in merchandise inventory ($23,500) Decrease in prepaid expenses $7,300 Increase in accounts payable $4,500 Net cash provided by operating activities $149,800

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