The net income for Miller Bat Company was $3 million for the year ended December 31, 20X4. Additional information is as follows:
Depreciation on fixed assets: $1,500,000
Gain from cash sales of land: 200,000
Increase in accounts payable: 300,000
Dividends paid on preferred stock: 400,000
Under U.S. GAAP, the net cash provided by operating activities in the statement of cash flows for the year ended December 31, 20X4 is: A. $4,200,000. B. $4,500,000. C. $4,600,000.
