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The Net Income Reported on the Income Statement for the Current

Question 3

Multiple Choice

The net income reported on the income statement for the current year was $310,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
The net income reported on the income statement for the current year was $310,000.Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000,respectively.Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? A) $233,000 B) $289,000 C) $387,000 D) $331,000
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?


A) $233,000
B) $289,000
C) $387,000
D) $331,000

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