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5. Norred Company's net income last year was $53,000. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) 53000 Net
5. Norred Company's net income last year was $53,000. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) 53000 Net income Debit balances: Accounts receivable $ 12,000 Inventory (14,000) Prepaid expenses (3,000) Credit balances: Accumulated depreciation 26,000 Accounts payable 35,000 Accrued liabilities (4,000) Taxes payable 17,000 0 Deferred taxes Based solely on this information, the net cash provided by operations under the indirect method on the statement of cash flows would be:
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