Mission Manufacturing’s depreciation expense for the most recent year was $72,000 and its net income was $424,000. The company’s net cash flow from operating activities was $569,600. Other information from Mission’s financial statements includes a decrease in accounts receivable of $24,000, a $27,200 increase in accounts payable, and a $9,600 decrease in prepaid expenses. The only other activity that occurred, for the company this year, was the sale of a piece of equipment whose book value was $16,000. Taking into consideration only the activities listed, what amount will Mission report in cash flows from investing activities? $3,200 cash outflow $28,800 cash inflow $12,800 cash inflow $3,200 cash inflow

Mission Manufacturing’s depreciation expense for the most recent year was $72,000 and its net income was $424,000. The company’s net cash flow from operating activities was $569,600. Other information from Mission’s financial statements includes a decrease in accounts receivable of $24,000, a $27,200 increase in accounts payable, and a $9,600 decrease in prepaid expenses. The only other activity that occurred, for the company this year, was the sale of a piece of equipment whose book value was $16,000. Taking into consideration only the activities listed, what amount will Mission report in cash flows from investing activities? $3,200 cash outflow $28,800 cash inflow $12,800 cash inflow $3,200 cash inflow

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20EB: Trumpet and Trombone Manufacturing, Inc. began the year with a retained earnings balance of...

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