NO.PZ2016012102000059
问题如下：
Using the following information, what is the firm's cash flow from operations:
选项：
A.
$170,000.
B.
$249,000.
C.
$255,000.
解释：
CFO=Net income - profits from sale of equipment + depreciation - △AR - △inventories + △AP + △ wages payable + △ deferred tax liabilities = 200,000 - 6,000 + 36,000 - (-10,000) - 12,000 + 17,000 + (- 8,000) + 12,000 = $249,000.
The profit on the sale of equipment should be subtracted from net income because this transaction is classified as investing, not operating.
考点：opearting cash flow的计算
计算CFO有直接法和间接法两种方法。根据题目数据，可以判断应该用间接法计算。
从NI出发，需要调整：
①损益表中的Non-cash items和non-operating items
②资产负债表中net changes in working capital（AR、inventory、AP）
题目表格中的数据有损益表数据，有资产负债表的数据，也有现金流量表中的数据等，我们要从中挑选我们所需要的的调整项目。
CFO=Net income - profits from sale of equipment + depreciation - △AR - △inventories + △AP + △ wages payable + △ deferred tax liabilities = 200,000 - 6,000 + 36,000 - (-10,000) - 12,000 + 17,000 + (- 8,000) + 12,000 = $249,000.
由于销售资产相关的交易属于投资活动，不是经营活动，所以在计算operating CF时，销售设备产生的利润应从净利润中剔除。
NI里面包括了wage expense,不包括wage payables的增长量，是这个意思吗？
