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1-3-3 Marigold Corp.'s net income for the current year was $374000. Depreciation was $48000. Accounts receivable...

1-3-3

Marigold Corp.'s net income for the current year was $374000. Depreciation was $48000. Accounts receivable and inventories decreased by $16000 and $25000, respectively. Prepaid expenses and salaries payable increased, respectively, by $2000 and $12000. Equipment was sold at a gain of $7200. How much cash was provided by operating activities?

$465800.

$371000.

$417000.

$449000.
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Answer #1
Cash Flows from Operating activities:
Net Income for the year 3,74,000
Adjustment required for reconciliation
Depreciation expense 48,000
Decrease in Accounts receivable 16,000
Decrease in Inventory 25,000
Prepaid expense increased -2,000
Increase in Salaries payable 12,000
Gain on sale of equipment -7,200
Net Cash provided from Operating activities 4,65,800
Answer is $ 465,800
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