Nornang Company”s net income last year was $47,000. Changes in selected balance sheet accounts for the year appear below:
|
Don't use plagiarized sources. Get Your Custom Essay on nornang company s net income last year was 47 000 changes in selected balance sheet 641371 Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! | Increases |
|
| (Decreases) |
| Debit balances: |
|
| Accounts receivable | $(13,000) |
| Inventory | $15,000 |
| Prepaid expenses | $4,000 |
| Credit balances: |
|
| Accumulated depreciation | $32,000 |
| Accounts payable | $(13,000) |
| Accrued liabilities | $8,000 |
| Taxes payable | $9,000 |
| Deferred taxes | $0 |
Based solely on this information, the net cash provided by operations under the indirect method on the statement of cash flows would be:
A) $77,000
B) $89,000
C) $79,000
D) $17,000
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