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Blue Spruce Corp. reported net income of $377000 for the year. During the year, accounts receivable increased by $27000, accounts payable decreased by $12000 and depreciation expense of $59000 was recorded. Net cash provided by operating activities for the year is

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Answer:

The correct solution is "$397000".

Explanation:

Given:

Net income,

= $377000

Depreciation,

= $59000

Accounts receivable increase,

= $27000

Accounts payable decreased,

= $12000

Now,

From operating activities, the cash flow will be:

= [tex]Net \ income+ Depreciation-Account \ receivable \ increase-Accounts \ payable \ decrease[/tex]By putting the values, we get

= [tex]377000 + 59000 - 27000 - 12000[/tex]

= [tex]397000[/tex] ($)

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