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Company net income last year was $37,000. The company paid a cash dividend of $2000 and did not sell or retire any property, plant and

Company net income last year was $37,000. The company paid a cash dividend of $2000 and did not sell or retire any property, plant and equipment last year. Changes in selected balance sheet accounts for the year appear below:

Increase/Decrease

Asset & Contra-Assets Accounts:

Account Receivable $6000

Inventory 5000

Prepaid Expenses (3000)

Long Term Investments 20,000

Accumulated Depreciation 26,000

Liability Accounts:

Account Payable (7000)

Income Taxes Payable 8,000

Based solely on this information, the net cash provided by operating activities under the indirect method on the statement of cash flows would be: a. $63,000 b. $32,000 c. $18,000 d. $56,000

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