Homework Answers
Answer: b. $ 276,798
Explanation
| Statement of Cash Flows (Partial) | |
| $ | |
| Cash flows from operating activities | |
| Net income | 295,306.00 |
| Adjustments to reconcile net income to net Cash flows from operating activities : | |
| Income Statement items not affecting cash; | |
| Depreciation expense | 35,984.00 |
| Amortization expense - Patents | 11,635.00 |
| Changes in current operating assets and liabilities: | |
| Increase in accounts receivable | (22,173.00) |
| Increase in inventory | (23,341.00) |
| Decrease in prepaid expenses | 4,291.00 |
| Decrease in accounts payable | (24,904.00) |
| Net Cash Flow from Operating Activities | 276,798.00 |
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