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Mullinix Inc. reported the following information: net income, $55,000; decrease in accounts receivable, $12,000; decrease in accounts payable, $6,500; and depreciation expense, $10,000. What amount did Mullinix report as cash flow from operating activities on its statement of cash flows?

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amanarsalan

Answer:

Mullinix will report $70,500 as Net Cash Provided by operating Activities.

Explanation:

CASH FLOWS FROM OPERATING ACTIVITIES  $

Net Income     55,000

Adjustments to reconcile net income to      

net cash provided by operating activities:      

Depreciation on Fixed Assets    10,000  

(Increase) Decrease in Current Assets:      

Accounts Receivables    12,000

Increase (Decrease) in Current Liabilities:    

Accounts Payable     (6,500)

NET CASH PROVIDED BY OPERATING ACTIVITIES 70,500

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