Question - S company reported net income for 2016 in the amount of $400,000. The company's financial statements also included the following:
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Increase in accounts receivable
|
$80,000
|
|
Decrease in inventory
|
60,000
|
|
Increase in accounts payable
|
200,000
|
|
Depreciation expense
|
104,000
|
|
Gain on sale of land
|
148,000
|
Required - What is the net cash by operating activities under the indirect method?
a. $432,000
b. $536,000
c. $580,000
d. $832,000