| Net cash provided by operating activities Given the infomation below would the net cash provided by operating activities be $165, 000?
Cash Decreased 50,000
Accounts receivable (net) Increase 75,000
Merchandise inventory Increased 125,000
prepaid expenses Decreased 75,000
Building and equipment Increased 75,000
Accumulated depreciation-building and equipment Increased 50,000
Land Increased 250,000
Totals Increased 350,000
Accounts payable Increased 65,000
Accrued expense Decreased 30,000
Notes payable-bank, long-term Decreased 200,000
Mortgage payable Increased 150,000
Common stock, $10 par Increased 250,000
Retained earnings (deficit) Increased 115,000
Totals Increased 350,000
Land was acquired for $250,000 in exchange for common stock, par
$250,000, during the year; all equipment purchased was for cash.
Equipment costing $25,000 was sold for $10,000; book value of the
equipment was $20,000 and the loss was reported as an ordinary item
in net income. Cash dividends of $50,000 were charged to retained
earnings and paid during the year; the transfer of net income to
retained earnings was the only other entry in the Retained Earnings
account.
If not what would the net cash provided by operating activities be? |