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What amount should the company report as net income

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Reference no: EM133032925

Question - A company's 2013 year-end balance sheet included the following:

 

Jan. 1

Dec. 31

Accounts Receivable

$80,000

$100,000

Inventory

$60,000

$70,000

Prepaid Expenses

$100,000

$75,000

Accounts Payable

$120,000

$100,000

Unearned Revenue

$65,000

$95,000

The company's net cash from operating activities on its 2013 Statement of Cash Flows is $200,000. Current year depreciation expense is $25,000. What amount should the company report as net income for 2013?

Reference no: EM133032925

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