Reference no: EM132642717
In 2016, Complex Company had the following financial data: Cash revenue Cash expenses Depreciation expense Income before income tax Income tax expense Net income
At the beginning of 2017, the company purchased additional assets at a cost of P5,000,000 on cash basis. Each year these assets provide additional cash revenue of P5,000,000 and incur cash expenses of P2,000,000. The assets have a 10-year life and the company uses the straight line Depreciation for all assets. The existing assets produced the same cash revenue and incur the same expenses as in 2016.
Assume income tax is paid every April 15 of each year.
Problem 1: The net cash inflows from operating activities in 2017 should be
a. 7,000,000 b. 6,500,000 c. 3,000,000 d. 7,700,000
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