Cain Co. reports net cash provided by operating activities of $30,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method). Determine Cain’s net income.

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Gain on sale of equipment... $8,000 Decrease in inventory..... $4,000 Increase in accounts receivable 3,000 Increase in prepaid expenses.. 2,000 Depreciation expense 5,000 Decrease in wages payable ... 1,000