Racing Horse Corporation reported net income for 2014 of $450,000, sales of $1,375,000, expenses (excluding depreciation

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Racing Horse Corporation Reported Net Income For 2014 Of 450 000 Sales Of 1 375 000 Expenses Excluding Depreciation 1 (19.85 KiB) Viewed 11 times

Racing Horse Corporation reported net income for 2014 of $450,000, sales of $1,375,000, expenses (excluding depreciation) of $350,000, and depreciation expense of $120,000. The company's accounts receivable balance decreased by $60,000 during the year. The company's inventory balance increased by $80,000 and its accounts payable balance increased by $45,000. The company's after tax cash flow from operations for the year is O $570,000 $595,000 O $545,000 $475,000