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What amount is their adjustments to reconcile net income

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Reference no: EM132708870

The following working capital accounts changed:

Kensington Industries reported net income of 50,000 in 2021. Depreciation expense was 19,000.

Accounting receivable 11,000 increase

Non-trading equity investment 16,000 increase

Inventory 7,300 increase

Non-trade note payable 15,000 increase

Accounts payable 12,200 increase

Problem 1: If Kensington uses IFRS reporting and the indirect method, what amount is their adjustments to reconcile net income to net cash provided by or (used in) operating activities?

a. 3,100

b. 49.500

c. 12,900

d. 10,500

Reference no: EM132708870

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