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Norbury Corporation's net income last year was $31,000. 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 $31,000. 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 | $ 15,500 |
Inventory | $ (4,000) |
Prepaid expenses | $ 11,000 |
Accumulated depreciation | $ 28,000 |
Liability Accounts: | |
Accounts payable | $ 15,000 |
Accrued liabilities | $ (8,500) |
Income taxes payable | $ 3,100 |
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:
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