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Norbury Corporation's net income last year was $27,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected
Norbury Corporation's net income last year was $27,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: Accounts receivable Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable $14,500 $(3,800) $10,000 $26,000 $14,000 $(8,300) $ 2,900 Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be: Multiple Choice $63,600 $13,100 O $82,300 O $40,900 O
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