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Binks Family Company reported sales revenue of $120,000, cost of goods sold $40,000, selling and marketing expense $20,000, depreciation expense $10,000, gain from sale of
Binks Family Company reported sales revenue of $120,000, cost of goods sold $40,000, selling and marketing expense $20,000, depreciation expense $10,000, gain from sale of equipment $5,000, and net income of $55,000 for 2012. The comparative Balance Sheet shows the balance of the following accounts:
12/31/2012 | 12/31/2011 | |
Accounts Receivable | $60,000 | $48,000 |
Prepaid Rent | 40,000 | 45,000 |
Deferred Revenue | 35,000 | 32,000 |
Accounts Payable | 28,000 | 33,000 |
What is the net cash provided by operating activities for 2012?
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