Response to the following problem:
Refer to problem 1, but assume that Gras Hospital reported a net loss of $87,400 for 20X1.
Required: In the hospital's 20X1 statement of cash flows, what amount should be reported as "net cash inflow from operating activities"?
Problem 1:
Gras Hospital reported a net income of $87,400 for 20X1. The statement of operations included the following items, among others:
Loss on sale of long-term investments $ 13,900
Depreciation expense 141,600
Gain on sale of plant assets 8,3oo
Required: In the hospital's 20X1 statement of cash flows, what amount should be reported as "net cash inflow from operating activities"?