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What adjustment to the net income will be made for the year

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Reference no: EM132920761

The following information pertains to Kingston Inc. for 20X9:

Inventory January 1, $300,000

Inventory December 31, $335,000

Accounts payable January 1 $45,000

Accounts payable December 31 $48,000

Cost of goods sold during 20X9 $2,400,000

Problem 1: If Kingston prepares their cash flow statement using the indirect method, what adjustment to the net income will be made for the year when calculating their cash flow from operations?

Multiple Choice

A) $32,000 addition to net income

B) $35,000 deduction from net income

C) $35,000 addition to net income

D) $32,000 deduction from net income

Reference no: EM132920761

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