Question
M.Halimeh Inc. is a manufacturer of Cars spare parts in the south of the U.S. During the year 2018, it reported a net cash flow
M.Halimeh Inc. is a manufacturer of Cars spare parts in the south of the U.S.
During the year 2018, it reported a net cash flow used by operating activities of $20,000. During the same year, the firm recorded depreciation expense of $10,000 and a gain on disposal of plant assets of $3,000.
Moreover, its balance sheet showed an increase in account payable,account receivables and accruals of $2,000, $3,000 and $4,000 respectively. It also showed a decrease in inventories, notes payable and bonds payable of $5,000, $20,000 and $25,000 respectively. It also paid a dividend of $4,500 during 2018.
Based solely on the above information, what is the firms net income in 2018?
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