Cain Company reports net cash provided by operating activities of $30,000. 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 method). Gain on sale of equipment Increase in accounts receivable Depreciation expense Determine Cain's net income. Net income $ 8,000 Decrease in inventory 3,000 Increase in prepaid expenses 5,000 Decrease in wages payable $ 4,000 2,000 1,000

Cain Company reports net cash provided by operating activities of $30,000 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 method). Determine Cain's net income