RL Photography reported net income of $100,000 for 2014. Included in the income

Question

RL Photography reported net income of $100,000 for 2014. Included in the income statement were depreciation expense of $6,300, patent amortization expense of $4,000, and a gain on disposal of plant assets of $3,600. RL's comparative balance sheets show the following balances. 12/31/14 12/31/13 Accounts receivable $21,000 $27,000 Accounts payable 9,200 6,000 Calculate net cash provided by operating activities for RL Photography. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Explanation / Answer

Net Income 100000 Add Depriciation 6300 Add Amortisation exp 4000 Less gain on disposal of plant -3600 Changes in WC Accnts Receivable 6000 Accnts payable 3200 Net Cash flow from operating activities 115900

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