Question

Please answer asap

Corporation’s comparative balance sheet shows a $41,000 decrease in accounts receivable and a $77,000 increase in accounts payable. The company paid $91,000 in cash dividends during the year and reports the following data from the income statement:

$690,000 net sales

$360,000 gross profit

$490,000 operating expenses (excluding depreciation)

$43,000 depreciation expense

$29,000 interest revenue

$71,000 interest expense

What is the amount of net cash provided (used) by operating activities?

Answer 1

Particulars	Amount (in $)
Gross profit	$360,000
Add: interest Revenue	$29,000
Expenses:
Operating Expenses	($490,000)
Depreciation Expense	($43,000 )
Interest Expense	($71,000)
Net Income / Loss	($215,000)
Particulars	Amount (in $ )
Net Income / Loss	($215,000)
Adjustments to reconcile net income:
Depreciation expense	$43,000
Decrease in accounts receivables	$41,000
Increase in Accounts payable	$77,000
Net cash provided or used by operating activities	($54,000)