Mori Company”s net income last year was $25,000 and cash dividends declared and paid to the company”s stockholders totaled $10,000. Changes in selected balance sheet accounts for the year appear below:
|
Don't use plagiarized sources. Get Your Custom Essay on mori company s net income last year was 25 000 and cash dividends declared and paid 641369 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | Increases |
|
| (Decreases) |
| Debit balances: |
|
| Accounts receivable | $(6,000) |
| Inventory | $2,000 |
| Prepaid expenses | $(1,000) |
| Long term investments | $20,000 |
| Credit balances: |
|
| Accumulated depreciation | $12,000 |
| Accounts payable | $9,000 |
| Taxes payable | $(5,000) |
Based solely on this information, the net cash provided by operations under the indirect method on the statement of cash flows would be:
A) $46,000
B) $4,000
C) $36,000
D) $37,000
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