Northington, Inc. is preparing the company's statement of cash flows for the fiscal year just ended. Using the following information, determine the amount of cash flows from operating activities using the indirect method: Net income$182,000Gain on the sale of equipment 12,300Proceeds from the sale of equipment 92,300Depreciation expense?equipment 50,000Payment of bonds at maturity 100,000Purchase of land 200,000Issuance of common stock 300,000Increase in merchandise inventory 35,400Decrease in accounts receivable 28,800Increase in accounts payable 23,700Payment of cash dividends 32,000
A. $261,400.
B. $332,200.
C. $236,800.
D. $189,400.
E. $186,800.
Answer: C
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