Question

Fox, Inc. reported net income of $300,000 for the current. Changes occurred in several balance sheet...

Fox, Inc. reported net income of $300,000 for the current. Changes occurred in several balance sheet

accounts as follows:

Equipment $25,000 increase

Accumulated depreciation 30,000 increase

Note payable 30,000 increase

Additional current year information:

• During the year, Fox received $10,000 for the sale of equipment costing $25,000, with accumulated depreciation of $11,000.

• In December, Fox purchased equipment costing $50,000 with $20,000 cash and a 12% note payable of $30,000.

In Fox's statement of cash flows for the year, net cash provided by operating activities should be:

Group of answer choices

$334,000

$345,000

$344,000

$357,000

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