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The following information is available for XYZ Company: January 1, 2017 December 31, 2017 Assets Cash 25000 30000 Accounts Receivable 80000 74000 Supplies 7000 10000
The following information is available for XYZ Company:
January 1, 2017 | December 31, 2017 | |
Assets | ||
Cash | 25000 | 30000 |
Accounts Receivable | 80000 | 74000 |
Supplies | 7000 | 10000 |
Land | 69000 | 57000 |
Equipment | 20000 | 20000 |
Accumulated Depreciation | <6000> | <8000> |
Liabilities + Equity | ||
Accounts Payable | 14000 | 19000 |
Short Terms Note Payable | 52000 | 17000 |
Salaries Payable | 7000 | 1000 |
Common Stock | 40000 | 50000 |
Retained Earnings | 82000 | 96000 |
During 2017, XYZ Company reported a net income of $26,000, recorded depreciation expense of $2,000, and sold land costing $12,000 for $20,000 cash. Using the indirect method, calculate the net cash flow from operating activities for 2017. If your answer is negative, place a minus sign in front of your answer with no spaces in between (e.g., -1234). Do not use decimals in your answer.
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