Reference no: EM132708880

The net income for the year ended December 31, 2021, for Oliva Company was 1,200,000. Additional information is as follows:

Depreciation on plant assets 600,000

Amortization of leasehold improvements 340,000

Provision for doubtful accounts on short-term receivables 120,000

Provision for doubtful accounts on long-term receivables 100,000

Interest paid on short-term borrowings 80,000

Interest paid on long-term borrowings 60,000

Problem 1: Based solely on the information given above, what should be the net cash provided by operating activities in the statement of cash flows for the year ended December 31, 2021?

a. 2,260,000

b. 2,360,000

c. 2,340,000

d. 2,500,000