[The following information applies to the questions displayed below.] Nelson Company experienced the following transactions during Year 1, its first year in operation. Acquired $12,000 cash by issuing common stock
Provided $4,600 of services on account
Paid $3,200 cash for operating expenses
Collected $3,800 of cash from customers in partial settlement of its accounts receivable
Paid a $200 cash dividend to stockholders
What is the amount of net cash flows from operating activities that will be reported on the Year 1 statement of cash flows?
A. $600
B. $1,400
C. $1,200
D. $400
Answer: A
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