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

Business

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