Multiple Choice
Walker Company reports net income of $420,000 for the year ended December 31, 2010. It also reports $75,600 depreciation expense and a gain of $11,000 on the sale of machinery. Its comparative balance sheets reveal a $33,600 decrease in accounts receivable, $17,220 increase in accounts payable, $9,240 decrease in prepaid expenses, and $13,020 increase in wages payable. What is the net cash flows provided (used) by operating activities using the indirect method?
A) ($539,200)
B) $300,800
C) $561,200
D) ($300,800)
E) $539,200
Correct Answer:
Verified
Correct Answer:
Verified
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