Question

Majorn Auto Parts Store had net income of $82,000 for the yearjust ended. Majorn collected the following additional informationto prepare its statement of cash flows for the year:

Increase inaccounts receivable	$104,000
Decrease ininventory	$19,000
Decrease inaccounts payable	$36,000
Increase inretained earnings	$30,000
Cashreceived from sale of building	$216,000
Gain onsale of building	$48,000
Depreciation expense	$33,000

Majorn uses the indirect method to prepare its statement of cashflows. What is Majorn's net cash provided (used) by operatingactivities?

$188,000

$282,000

$(54,000)

$42,000

2)

Sonier Corporation's most recent balance sheet appearsbelow:

Sonier Corporation's Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Cash and cashequivalents	$ 54	$ 46
Accountsreceivable	97	90
Inventory	79	76
Property, plant andequipment	648	560
Less: accumulateddepreciation	268	232
Total assets	$610	$540
Liabilitiesand stockholders' equity:
Accountspayable	$70	$ 68
Bonds payable	304	360
Common stock	35	32
Retainedearnings	201	80
Total liabilitiesand stockholders' equity	$610	$540

The net income for the year was $172. Cash dividends were $51.The company did not issue any bonds or repurchase any of its commonstock during the year. The net cash provided by (used in) financingactivities for the year was:

$3

$(104)

$(51)

$(56)