Blue Sky Company reported net income of $520,000 for the year ended 12/31/21. Included in the...

Blue Sky Company reported net income of $520,000 for the year ended 12/31/21. Included in the computation of net income were: amortization of a patent, $40,000; income from an investment in common stock of Grape Inc., accounted for under the equity method, $62,000; and amortization of a bond discount, $17,000. Blue Sky also paid a $50,000 dividend during the year. The net cash provided (used) by operating activities would be reported at ______

Expert Solution

Blue Sky Company
Calculation for Net Cash provided (used) by operating activities would be reported:

Particulars	Amount
Net income for the year ended	$ 5,20,000
Less:
Income from an investment in common stock of Grape inc.	$ (62,000)
Add:
Amortization of a patent	$ 40,000
Amortization of a bond discount	$ 17,000
Dividend paid during the year	$ 50,000
Net cash provided by operating activities	$ 5,65,000

ekkarill92 answered 1 year ago

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