Union Company collected $500,000 from customers and paid employees and suppliers $380,000 during 20X6. In addition, the company borrowed $50,000 from the bank and purchased equipment for $90,000 cash. The company's 20X6 Statement of Cash Flows would show which of the following?
A) Increase in cash of $160,000.
B) Increase in cash of $80,000.
C) Increase in cash of $180,000.
D) Decrease in cash of $180,000.
E) None of the above is correct.
Ans: B) Increase in cash of $80,000.
Business
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