Sunland Company reported net income of $110000 for the year ended December 31, 2020. During the year, inventories decreased by $15400, accounts payable decreased by $20000, depreciation expense was $17900 and a gain on disposal of equipment of $8800 was recorded. Net cash provided by operating activities in 2020 using the indirect method was O $125400. $106700. O $123300. O $114500.
Sunland Company reported net income of $110000 for the year ended December 31, 2020. During the year, inventories decreased by $15400, accounts payable decreased by $20000, depreciation expense was $17900 and a gain on disposal of equipment of $8800 was recorded. Net cash provided by operating activities in 2020 using the indirect method was O $125400. $106700. O $123300. O $114500.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 25CE
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