INDIRECT DETERMINATION OF CASH FLOWS FROM OPERATIONS. For Cornelius, Inc., you have the following data: INCOME STATEMENT

INDIRECT DETERMINATION OF CASH FLOWS FROM OPERATIONS. For Cornelius, Inc., you have the following data:

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INCOME STATEMENT ITEM Depreciation expense Net income AMOUNT $11,000 38,000 BALANCE SHEET ITEM ENDING BEGINNING Accounts receivable $27,000 $21,000 Inventory (using perpetual inventory accounting). Accounts payable. 43,000 47,000 32,000 24,000 REQUIRED: Determine the net cash flow provided by operations.