Net income is $167,000. During the year A/P increased $17,000, inventory decreased $8,000,

and A/R increased $12,000. Under the Indirect Method, net cash provided by operations is:

25

In horizontal analysis, each item is expressed as percentage of the:

	a.	Net income amount
	b.	Total assets amount
	c.	Base year amount
	d.	Stockholders equity amount