Peterson Enterprises reports the following information: Net income $5,000,000 Depreciation expense 680,000 Loss on the sale of investments 154,000 Increase in accounts receivable 320,000 Peterson should report cash provided by operating activities of:.a. $5,000,000.b. $3,846,000. c. $5,514,000.d. $6,154,000.

The answer is Option C.

Explanation:

The cash flows statement (extract) is provided below:

Peterson Enterprises

Statement of cash flows

Net income                                                         $5,000,000

Add: Depreciation expense                                    680,000

        Loss on the sale of investments                     154,000

Less: Increase in accounts receivable                  (320,000)

Net cash flows from operating activities         $5,514,000

commercial banking

provide online payment services

provide online banking

asset management firms

invest in people's funds in securities

accept tax return refunds

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