Assume a company had net income of $61,000. It provided the following excerpts from its balance sheet: This YearLast YearCurrent assets: Accounts receivable$ 46,000$ 46,000Inventory$ 53,000$ 53,000Current liabilities: Accounts payable$ 44,000$ 49,000Income taxes payable$ 10,000$ 14,000If the company did not sell any noncurrent assets during the period and its depreciation charges for the period were $21,000, then based solely on the information provided, the net cash provided by operating activities would be: Multiple Choice $49,000. $31,000. $73,000. $91,000.

Solution... Cash provided by operating activities:

Answered: Assume a company had net income of…

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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Assume a company had net income of $61,000. It provided the following excerpts from its balance sheet:

	This Year	Last Year
Current assets:
Accounts receivable	$ 46,000	$ 46,000
Inventory	$ 53,000	$ 53,000
Current liabilities:
Accounts payable	$ 44,000	$ 49,000
Income taxes payable	$ 10,000	$ 14,000

If the company did not sell any noncurrent assets during the period and its depreciation charges for the period were $21,000, then based solely on the information provided, the net cash provided by operating activities would be:

Multiple Choice

$49,000.
$31,000.
$73,000.
$91,000.

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