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myo) Assume a company's net cash... Assume a company's net cash provided by operating activities...

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Accounting

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myo) Assume a company's net cash... Assume a company's net cash provided by operating activities is $86,000. It provided the following excerpts from stance sheet This Year Last Year Current assets Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable $40,000 $53,000 $13,000 $46,000 $50,000 $11,000 $38.000 $18,000 $13,000 544,000 $15,000 $10,000 Also assume the company incurred a loss on the sale of equipment of $4.000 and the credits to its accumulated depreciation account we $23.000 Based solely on the Information provided the company's net income would be Multiple Choice $58,000

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