I. Operating ActivitiesNet income $ 50,000II. Long-Term Investing ActivitiesAdditions to property, plant, and equipment $ (250,000)III. Financing ActivitiesNet cash provided by financing activities $ 170,000IV. SummaryNet decrease in cash (30,000)Cash and equivalents at beginning of the year 55,000Cash and equivalents at the end of the year $ 25,000If accruals increased by $25,000, receivables and inventories increased by $100,000, and depreciation and amortization totaled $10,000, what was the firm’s net income?

I. Operating ActivitiesNet income $ 50,000II. Long-Term Investing ActivitiesAdditions to property, plant, and equipment $ (250,000)III. Financing ActivitiesNet cash provided by financing activities $ 170,000IV. SummaryNet decrease in cash (30,000)Cash and equivalents at beginning of the year 55,000Cash and equivalents at the end of the year $ 25,000If accruals increased by $25,000, receivables and inventories increased by $100,000, and depreciation and amortization totaled $10,000, what was the firm’s net income?

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

ChapterMB: Model-building Problems

Section: Chapter Questions

Problem 14M

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