Question - Tyler Inc. had net income for 1999 of $7,000,000. Additional information is as follows:
Amortization of goodwill $60,000
Depreciation on plant assets 2,200,000
Long-term debt:
Bond premium amortization 90,000
Interest paid 1,200,000
Provision for doubtful accounts:
Current receivables 110,000
Long-term nontrade receivables 40,000
What should be the net cash provided by operating activities in the statement of cash flows for the year ended December 31, 1999, based solely on the above information?
a. $9,430,000
b. $9,500,000
c. $9320,000
d. $9,460,000