### Balance Sheet AnalysisAssume a company had net income of $72,000 and provided the following excerpts from its balance sheet:#### Current Assets- **This Year** - Accounts Receivable: $40,000 - Inventory: $53,000 - Prepaid Expenses: $13,000- **Last Year** - Accounts Receivable: $46,000 - Inventory: $50,000 - Prepaid Expenses: $11,000#### Current Liabilities- **This Year** - Accounts Payable: $38,000 - Accrued Liabilities: $18,000 - Income Taxes Payable: $13,000- **Last Year** - Accounts Payable: $44,000 - Accrued Liabilities: $15,000 - Income Taxes Payable: $10,000---If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then **based solely on the information provided**, the company's net cash provided by (used in) operating activities would be:### Multiple Choice- ○ $94,000- ○ $52,000- ○ $68,000- ○ $92,000---This exercise involves analyzing changes in current assets and liabilities alongside net income and depreciation to determine cash flow from operating activities.

Name: ### Balance Sheet AnalysisAssume a company had net income of $72,000
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Description: ### Balance Sheet AnalysisAssume a company had net income of $72,000 and provided the following excerpts from its balance sheet:#### Current Assets- **This Year** - Accounts Receivable: $40,000 - Inventory: $53,000 - Prepaid Expenses: $13,000- **

Solution: Statement of Cash Flows (Partial) For the current year Particulars Details Amount…

Business

Accounting

Assue a company flad fiet income of S72000 and provided tie lollowinng excerpts irom its Dalance This Year Last Year Current assets: Accounts receivable $40,000 $53,000 $46,000 $50,000 $11,000 Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $13,000 $38,000 $18,000 $13,000 $44,000 $15,000 $10, e00 If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then besed solely on the Information provided, the company's net cash provided by (used in) operating activities would be: Multiple Choice

Assue a company flad fiet income of S72000 and provided tie lollowinng excerpts irom its Dalance This Year Last Year Current assets: Accounts receivable $40,000 $53,000 $46,000 $50,000 $11,000 Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $13,000 $38,000 $18,000 $13,000 $44,000 $15,000 $10, e00 If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then besed solely on the Information provided, the company's net cash provided by (used in) operating activities would be: Multiple Choice

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The selling expenses 440 000 ID. administrative expenses 240 000 ID., income from operating 630 000 ID., other expenses and losses 90 000 ID., income tax 40 000 ID., cost of purchases 180 000 ID., the net income for the year is 680 000 ID. O 760 000 ID. 940 000 ID. O 500 000 ID. no one.
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