DJ Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The company has provided the following information pertaining to its recent year of operation: • Cash flow from operating activities, $272,000 • Accounts payable decreased $21,000 • Prepaid assets increased $15,000 • Depreciation expense was $27,000 • Accounts receivable decreased $21,000 • Loss on sale of a depreciable asset was $16,000 • Wages payable increased $10,000 • Unearned revenue decreased $16,000 • Patent amortization expense was $10,000 How much was DJ's net income? $256,000 $210,000 $198,000 $240,000
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DJ Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The...
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