During the Year, Smith Company Reported Net Income of $300,000

Multiple Choice

During the year, Smith Company reported net income of $300,000, including amortization of intangible assets of $66,000, depreciation of plant assets of $132,000, and amortization of premium on investment in bonds of $20,000. Applying the indirect method, cash provided by operating activities is what amount?

A) $300,000
B) $518,000
C) $478,000
D) $498,000