During Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its stockholders. Based on this information alone, which of the following statements is not true?
a. Net income amounted to $350.
b. Total assets increased by $200.
c. Cash inflow from operating activities was $350.
d. Cash inflow from operating activities was $200.
Answers: 2
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During Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a...
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