A company uses the indirect method to determine its cash flows from operating activities. Use the following information to determine its net cash provided or used by operating activities. Net income...$15,200 Depreciation expense...$10,000 Cash payment on note payable... $8,000 Gain on sale of land...$3,000 Increase in inventory...$1,500 Increase in accounts payable...$2,850 Multiple Choice $23,550 used by operating activities $23,550 provided by operating activities $15,550 provided by operating activities $42,400 provided by operating activities

Use the following information from Kentucky Companys financial statements to determine operating net cash flows (indirect method).

Use the following information from Albuquerque Companys financial statements to determine operating net cash flows (indirect method).

Preparing Net Cash Flows from Operating Activities-Direct Method Refer to the information for Granville Manufacturing Company. Required: Prepare the cash flows from operating activities section of the statement of cash flows using the direct method.

Which item is added to net income when computing cash flows from operating activities? a. Gain on the disposal of property, plant, and equipment b. Increase in wages payable c. Increase in inventory d. Increase in prepaid rent Use the following information for Multiple-Choice Questions 11-9 and 11-10: Cornett Company reported the following information: cash received from the issuance of common stock, $150,000; cash received from the sale of equipment, $14,800; cash paid to purchase an investment, $20,000; cash paid to retire a note payable, $50,000; and cash collected from sales to customers, $225,000.