Question

Rice Company, a retailer, has provided the following information pertaining to its recent year of operation:...

Rice Company, a retailer, has provided the following information pertaining to its recent year of operation:

  • Net income, $100,000  
  • Accounts receivable increased $9,000
  • Prepaid insurance decreased $3,000
  • Depreciation expense was $15,000
  • Gain on sale of land, $2,000
  • Wages payable decreased $7,000
  • Unearned revenue increased $11,000

   

Using the indirect method, how much was Rice's net cash provided by operating activities?

$125,000

$115,000

$111,000

$89,000.

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