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Cain Company reports net cash provided by operating activities of $40,000. It also reports the following information under Adjustments to reconcile net income to net

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Cain Company reports net cash provided by operating activities of $40,000. It also reports the following information under "Adjustments to reconcile net income to net cash provided by operating activities on its statement of cash flows using the Indirect methoch Gain on sale of equipment $ 12,099 Decrease in {mventory Increase in accounts receivable 5,00 Increase in prepaid expenses Depreciation expense 9,000 Decrease in wages payable Determine Cain's net income 55, 6.00 5.000 Not Incom

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