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Nordquist Company's net income last year was $18,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected
Nordquist Company's net income last year was $18,000. 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 $10,500 $(3,000) $6,000 $18,000 $10,000 $(7,500) $2,100 Based solely on this information, the net cash provided by operating activities under the indirect method on the statement of cash flows would be: $43,600 $27,100 $8,900 $54,100
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