Question
2) Berful Industries reports net income of $50,000. Included in its income statement were depreciation expense of $4,000 and amortization expense of $600. Equipment was
2) Berful Industries reports net income of $50,000. Included in its income statement were depreciation expense of $4,000 and amortization expense of $600. Equipment was sold for $3,000 cash, at a gain of $200. The firm purchased $9,000 in new equipment during the year, and borrowed $50,000 cash on a long-term note payable. Accounts receivable increased by $$6,800, inventories decreased by $3,800, prepaid expenses decreased by $400, accounts payable increased by $9,000, and other accrued liabilities decreased by $900.
What is net cash flow from operating activities under US GAAP, using the indirect method?
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