The net cash provided by operating activities in Fox Company's statement of cash flows for 2020 was $310,000. For 2020, depreciation on plant assets was $90,000, amortization of patent was $16,000, and cash dividends paid on common stock was $108,000. Based only on the information given above, Fox's net income for 2020 was a. $310,000. b. $204,000. c. $ 16,000. d. $312,000.

The net cash provided by operating activities in Fox Company's statement of cash flows for 2020 was $310,000. For 2020, depreciation on plant assets was $90,000, amortization of patent was $16,000, and cash dividends paid on common stock was $108,000. Based only on the information given above, Fox's net income for 2020 was a. $310,000. b. $204,000. c. $ 16,000. d. $312,000.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter16: Statement Of Cash Flows

Section: Chapter Questions

Problem 15E

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