Norlan company does not ring up sales taxes Norlan company does not ring up sale

Question

Norlan company does not ring up sales taxes Norlan company does not ring up sales taxes Norlan company does not ring up sales taxes Norlan company does not ring up sales taxes 32. Milton Company reported net income of $40,000 for the year. During th increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $5,000 wa recorded. Net cash provided by operating activities for the year is e year, accounts receivabl a. $30,000. b. $45,000 c. $39,000 d. $35,000. 33 In calculating cash flows from onerating aetivitieg

Explanation / Answer

Answer is option D $35,000

Net income....................................................... 40000

Adjustments made to net income :

Depreciation expense...................................... 5000

Increase in accounts receivable...................... (7000)

Decrease in accounts payable..........................(3000)

Net cash provided by operating activities........ 35000

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