Quiz: Unit 2: Homework Assigne x Global Colture х aven University Stux + 36837/quizzes/161773/take Question 1 1. The net

[answerhappygod]

1 (53.79 KiB) Viewed 31 times

Quiz: Unit 2: Homework Assigne x Global Colture х aven University Stux + 36837/quizzes/161773/take Question 1 1. The net income reported on the income statement for the current year was $310,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,00 and $9.000, respectively. Balances of current asset and current liability accounts at the end at the beginning of the year are as follows: End Beginning Cash $50,000 $60,000 Accounts receivable 112,000 108.000 Inventories 105.000 93,000 Prepaid expenses 4,500 6,500 Accounts payable (merchandise creditors) 75,000 89,000 What is the amount of cash flows from operating activities reported on the statement of cashf prepared by the indirect method? O $233,000 O $289.000 O $387,000 O $331,000 99- H a