Moretta Company”s net income last year was $32,000 and cash dividends declared and paid to the company”s stockholders totaled $14,000. Changes in selected balance sheet accounts for the year appear below:
|
Don't use plagiarized sources. Get Your Custom Essay on based solely on this information the net cash provided by operations under the indir 641370 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | Increases |
|
| (Decreases) |
| Debit balances: |
|
| Accounts receivable | $7,000 |
| Inventory | $(4,000) |
| Prepaid expenses | $(1,000) |
| Long term investments | $8,000 |
| Credit balances: |
|
| Accumulated depreciation | $17,000 |
| Accounts payable | $(6,000) |
| Taxes payable | $7,000 |
Based solely on this information, the net cash provided by operations under the indirect method on the statement of cash flows would be:
A) $24,000
B) $36,000
C) $16,000
D) $48,000
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