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The net income for World Class Corporation was $140 million for the year ended December 31, 2021. Related information follows:

A. Amortization of patent, $1 million.
B. Cash dividends paid, $14 million.
C. Decrease in accounts receivable, $9 million.
D. Decrease in salaries payable, $1 million.
E. Depreciation expense, $20 million.
F. Increase in long-term notes payable, $13 million.
G. Sale of preferred stock for cash, $17 million.
H. Cash flows from operating activities during 2021 should be reported as:

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Answer:

$169 million

Explanation:

To calculate the cash flow from operating activities we must start with the net income:

net income                                                   $140 million

plus patent amortization                                 $1 million

plus decrease in accounts receivable          $9 million

plus depreciation expense                         $20 million

minus decrease in salaries payable            ($1 million)  

cash flow from operating activities           $169 million

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