Problem:
Jackson Company recorded the following cash transactions for the year:
- Paid $135,000 for salaries.
- Paid $60,000 to rent and other office expenses
- Paid $15,000 for utilities.
- Paid $6,000 in dividends.
- Collected $225,000 from customers.
Required:
Question: What was Jackson's net cash provided by operating activities?
- $82,000
- $75,000
- $15,000
- $90,000
- $69,000
Note: Provide support for your rationale.