Question

Coronado Company reported net income of $69000 for the year. During the year, accounts receivable decreased by $8100, accounts payable increased by $4200 and depreciation expense of $4500 was recorded. Using the indirect method, net cash provided by operating activities for the year is $64500. $85800. $68400. $56700.

Answer 1

Coronado Company reported the indirect method as answer is 85800. Thus, the option (b) is correct.

What is net income?

The term “net income” refers to the company's earnings less all costs, such as salaries, taxes, raw materials, and cost of products sold. After subtracting an individual and business's expenses, the net income is what remains.

The net cash provided by operating activities are:

Net income = $69000

The accounts receivable decreased = $8100

The accounts payable increased = $4200

Depreciation expense = $4500

The addition of the details are:

$69000 + $8100 + $4200 + $4500

= 85800.

Therefore, option (b) is correct.

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