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Selected information from Rockway, Inc.’s U.S. GAAP financial statements for the year ended December 31, included...

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Question

Accounting

Selected information from Rockway, Inc.’s U.S. GAAP financialstatements for the year ended December 31, included the following(in $):

2004

2005

Sales

17,000,000

21,000,000

Cost of Goods Sold

11,000,000

15,000,000

Interest Paid

800,000

1,000,000

Current Income Taxes Paid

700,000

1,000,000

Accounts Receivable

3,000,000

2,500,000

Inventory

2,400,000

3,000,000

Property, Plant & Equip

2,000,000

16,000,000

Accounts Payable

1,000,000

1,400,000

Long-term Debt

8,000,000

9,000,000

Common Stock

4,000,000

5,000,000

Cash provided or used by operating activities (CFO) in the year2005 was closest to:

Group of answer choices

A. $6,300,000.

B. $5,300,000.

C. $4,300,000.

Answer & Explanation Solved by verified expert
3.7 Ratings (541 Votes)
C 4300000WorkingsNotes All the figures mentioned as bf has    See Answer
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