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| Appalachian Outfitters, Inc., a mail order supplier of camping gear, is putting together its current-year statement of cash flow. A comparison of the company’s year-end balance sheet with the prior year’s balance sheet shows the following changes from a year ago. Assets Cash & marketable securities $ (600) Accounts receivable 200 Inventories (100) Gross fixed assets 4,600 Accumulated depreciation (500) Total $3,600 Liabilities & Net Worth Accounts payable $ 250 Accruals 50 Long-term note (300) Long-term debt 1,400 Common stock 0 Retained earnings 2,200 Total $3,600 The firm’s payout ratio is 20%. During the current year, net cash provided by operations amounted to A. $2,900 B. $3,050 C. $3,450 D. $4,050 |