The income statement for the current year


The net income reported on the income statement for the current year was $220,000. Depreciation was $50,000. Account receivable and inventories decreased by $10,000 and $30,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: The income statement for the current year
Reference No:- TGS0710373

Expected delivery within 24 Hours