QUESTION 15 The net income reported on the income statement for the current...
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Accounting
QUESTION 15
The net income reported on the income statement for the current year was $245,000. Depreciation was $40,000. Account receivable and inventories increased by $8,000 and $15,000, respectively. Prepaid expenses and accounts payable increased, respectively, by $1,000 and $8,000. How much cash was provided by operating activities?
a.
$332,000
b.
$393,000
c.
$269,000
d.
$287,000
1 points
QUESTION 16
Dongrea Company reported the following year-end information: beginning work in process inventory, $180,000; cost of goods manufactured, $866,000; beginning finished goods inventory, $252,000; ending work in process inventory, $220,000; and ending finished goods inventory, $424,000. Plano Company's cost of goods sold for the year is
a.
$544,000.
b.
$874,000.
c.
$812,000.
d.
$694,000.
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