Vintage Boutique reported net income of $30,000; depreciation expenses of $19,000; an increase in Accounts Payable of $2,000; and an increase in current notes receivable of $3,000. Net Cash Flows from operating activities under the indirect method is: A) $50,000.
A) $50,000.
B) $49,000.
C) $48,000.
D) $44,000.
C) $48,000.
Explanation: net income + depreciation expense + A/P - note receivable; ex: $30,000 + $19,000 + $2,000 - $3,000 = $48,000
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