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Frederick Corporation reports net income of $410,000. Accounts Payable balances at the beginning and end of...

Frederick Corporation reports net income of $410,000. Accounts Payable balances at the beginning and end of the year were $50,000 and $39,000, respectively. Interest Payable balances at the beginning and end of the year were $27,000 and $30,000, respectively. What is the company’s cash inflows from operating activities?

$396,000

$402,000

$418,000

$424,000

Please , answer this with solution

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Answer #1

Correct answer--------$402,000

Working

Cash flows from Operating Activity
Net Income $      410,000.00
Adjustments to reconcile Net Income to cash from operations
Decrease in Accounts payable $         (11,000.00)
Increase in interest payable $              3,000.00
Decrease in Prepaid Insurance $        (8,000.00)
Net Cash flows from Operating Activities $      402,000.00
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