The following information is for Cleveland Company: End of YearBeginning of YearAccounts receivable $60,000 $84,000 Prepaid rent 20,000 8,000 Long term investments 70,000 80,000 Dividends payable 20,000 24,000 Salaries payable 76,000 82,000 Long term notes payable 170,000 180,000 Additional data for the current year: (1) Sales on account for the period were $80,000. (2) Operating expenses for the period were $52,000. Based on this limited information, what was the net cash inflow from operating activities?
A. $34,000
B. $22,000
C. $18,000
D. $28,000
Answer: A
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