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48) Norbury Corporation's net income last year was $34,000. The company did not sello anly property, plant, and equipment last year. Changes in selected balance
48) Norbury Corporation's net income last year was $34,000. The company did not sello anly property, plant, and equipment last year. Changes in selected balance sheet accounts year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable $ 12,000 $ (9,000) $ 4,000 $ 19,000 $ $ $ 5,000 7,000 6,000) Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be: A) $52,000 B) $66,000 C) $53,000 D) $16,000
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