Business, 25.02.2020 19:14 homeschool0123

The following information applies to the questions displayed below. Riley Company borrowed $32,000 on April 1, 2016 from the Titan Bank. The note issued by Riley carried a one year term and a 8% annual interest rate. Riley earned cash revenue of $980 in 2016 and $1,300 in 2017. Assume no other transactions. The amount of net income on the 2017 income statement would be: A) $640 B) $660 C) $(20) D) $1.940 The amount of cash flow from operating activitles that would appear on the 2017 statement of cash flows would be: A) $660 inflow B) $1,300 inflow C) $1,260 outflow. D) $32,660 outflow.

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The following information applies to the questions displayed below. Riley Company borrowed $32,000 o...

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