The following information relates to Siem, Inc. for last year: Net income $5,000 Net increase in all current assets except cash $43,000 Net decrease in current liabilities $27,000 Dividends paid on common stock $25,000 Depreciation expense $30,000 Gain on sale of building $11,000 What is Siem's net cash provided (used) by operating activities for last year on the statement of cash flows? (Assume that current liabilities do not contain any notes payable.)  a. $(46,000) b. $(71,000) c. $(17,000) d. $8,000

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 5RE: In the current year, Harrisburg Corporation had net income of 35,000, a 9,000 decrease in accounts...
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The following information relates to Siem, Inc. for last year: Net income $5,000 Net increase in all current assets except cash $43,000 Net decrease in current liabilities $27,000 Dividends paid on common stock $25,000 Depreciation expense $30,000 Gain on sale of building $11,000 What is Siem's net cash provided (used) by operating activities for last year on the statement of cash flows? (Assume that current liabilities do not contain any notes payable.) 

a. $(46,000)
b. $(71,000)
c. $(17,000)
d. $8,000
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