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Norbury Corporation's net income last year was $45,000. 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 $45,000. 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 $ 20,500
Inventory $ (5,000)
Prepaid expenses $ 16,000
Accumulated depreciation $ 38,000
Liability Accounts:
Accounts payable $ 20,000
Accrued liabilities $ (9,500)
Income taxes payable $ 4,100

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:

Multiple Choice

  • $66,100

  • $93,600

  • $129,100

  • $23,900

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