Marigold Corp. reported net income of $59000 for the year ended December 31, 2021 Included in net income were depreciation expense of $8900 and a gain on sale of equipment of $2100. Each of the following accounts increased during 2021 Accounts receivable $2700 Inventory $4900 Prepaid rent $7300 Available-for-sale securities $900 $5000 Accounts payable What is the amount of cash provided by operating activities for Marigold Corp. for the year ended December 31, 2021? $58000 Ⓒ$55900 Ⓒ$55000 $46700

ELS Corporation reported gross receipts for 2017-2019 for scenarios A, B, and C as follows:                  Year                      Scenario A                         Scenario B                          Scenario C                2017                     $25,000,000                      $24,000,000                      $26,500,000                2018                     $26,000,000                      $26,000,000                      $26,000,000                2019                     $26,900,000                      $28,500,000                      $25,500,000 a) Is ELS allowed to use the cash method of accounting in 2020 under Scenario A? b) Is ELS allowed to use the cash method of accounting in 2020 under Scenario B? c) Is ELS allowed to use the cash method of accounting in 2020 under Scenario C?

Ravenna Company is a merchandiser using the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows:   Ending Balance Beginning Balance Cash and cash equivalents $ 89,000 $ 106,750 Accounts receivable 71,500 77,000 Inventory 96,000 87,500 Total current assets 256,500 271,250 Property, plant, and equipment 255,000 245,000 Less accumulated depreciation 85,000 61,250 Net property, plant, and equipment 170,000 183,750 Total assets $ 426,500 $ 455,000 Accounts payable $ 56,000 $ 99,500 Income taxes payable 43,500 57,000 Bonds payable 105,000 87,500 Common stock 122,500 105,000 Retained earnings 99,500 106,000 Total liabilities and stockholders’ equity $ 426,500 $ 455,000 During the year, Ravenna paid a $10,500 cash dividend and sold a piece of equipment for $5,250 that originally cost $12,000 and had accumulated depreciation of $8,000. The company did not retire any bonds or…

Crane Company reported net income of $148,500. For 2020, depreciation was $45,100, and the company reported a gain on sale of investments of $12,100. Accounts receivable increased $25,100 and accounts payable decreased $23,100.Compute net cash provided by operating activities using the indirect method. Net cash provided by operating activities