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The following information is available for XYZ Company: January 1, 2016 December 31, 2016 ASSETS Cash $31,000 $24,000 Accounts receivable 74,000 80,000 Supplies 10,000 7,000
The following information is available for XYZ Company: January 1, 2016 December 31, 2016 ASSETS Cash $31,000 $24,000 Accounts receivable 74,000 80,000 Supplies 10,000 7,000 Land 40,000 50,000 Equipment 20,000 20,000 Accumulated depreciation 6,000 8,000 Patent 0 7,000 LIABILITIES + EQUITY Accounts payable $15,000 $19,000 Short-term notes payable 22,000 18,000 Salaries payable 7,000 1,000 Common stock 40,000 50,000 Retained earnings 85,000 92,000 During 2016, XYZ Company paid dividends of $12,000 and recorded depreciation expenseof $2,000. Using the indirect method, calculate the net cash flow from operating activities for 2016. If your answer is negative, place a minus sign in front of your answer with nospaces in between (e.g., -1234). Do not use decimals in your answer.
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