Question
Morang Company's net income last year was $43,000 and cash dividends declared and paid to the company's stockholders totaled $28,000. Changes in selected balance sheet
Morang Company's net income last year was $43,000 and cash dividends declared and paid to the company's stockholders totaled $28,000. Changes in selected balance sheet accounts for the year appear below:
|
| Increases |
|
| (Decreases) |
| Debit balances: |
|
| Accounts receivable | $( 6,000) |
| Inventory | 2,000 |
| Long term investments | 40,000 |
| Credit balances: |
|
| Accumulated depreciation | 19,000 |
| Accounts payable | 18,000 |
| Accrued liabilities (current) | ( 5,000) |
| Deferred taxes | 4,000 |
Based solely on this information, the net cash provided by operations under the indirect method on the statement of cash flows would be: (show your work)
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