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Alpha’s Company’s Fiscal Year 2017 Statement of Cash Flows reflected information that cash provided by operating activities was $800,000. The following additional information was provided: Depreciation Expense $380,000 Common Stock Dividends 200,000 Accounts Receivable decrease 110,000 Accounts Payable increase 60,000 Use this information and determine Alpha Company’s the Net Income (Net Loss) the 2017 Fiscal Year.
Expert Answer
Cash provided by Operating Activities = $800,000
Depreciation Expense = $380,000
Decrease in Accounts Receivable = $110,000
Increase in Accounts Payable = $60,000
Cash provided by Operating Activities = Net Income (loss) + Depreciation Expense + Decrease in Accounts Receivable + Increase in Accounts Payable
$800,000 = Net Income (loss) + $380,000 + $110,000 + $60,000
Net Income (loss) = $250,000
So, Net Income in the Fiscal Year 2017 is $250,000
