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Norbury Corporation's net income last year was $32,500. 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 $32,500. 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 | $ | 16,000 | |
Inventory | $ | (4,100 | ) |
Prepaid expenses | $ | 11,500 | |
Accumulated depreciation | $ | 29,000 | |
Liability Accounts: | |||
Accounts payable | $ | 15,500 | |
Accrued liabilities | $ | (8,600 | ) |
Income taxes payable | $ | 3,200 | |
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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