Question

Leather ShopLeather Shop earned net income of $57,000 after deducting depreciation of $5,000 and all other expenses. Current assets decreased by $4,000​, and current liabilities increased by $9,000. How much was Leather Shop'sLeather Shop's cash provided by operating activities​ (indirect method)? (A) $40,000(B) $66,000(C) $48,000(D) $74,000

Answer 1

$75,000

This option has not been provided

Step-by-step explanation:

Cash provided by operating activities

Net Operating Income

Add: Depreciation

Add: Decrease in current assets

Add: Increase in Current Liabilities

Using the information in question, we have

Cash Provided by operating activities = $57,000 + $5,000 + $4,000 + $9,000 = $75,000

None of the above is the right answer as the correct option is not available.