|
Nordquist Company’s net income last year was $44,000. 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 | $17,500 |
| Inventory | $(4,400) |
| Prepaid expenses | $13,000 |
| Accumulated depreciation | $32,000 |
| Liability Accounts: | |
| Accounts payable | $17,000 |
| Accrued liabilities | $(8,900) |
| Income taxes payable | $3,500 |
| Based solely on this information, the net cash provided by operating activities under the indirect method on the statement of cash flows would be: |
| $78,600 | |
| $113,700 | |
| $61,500 | |
| $26,500
*** For anyresponders who post an aswern, if you help with this problem please show solution/work to the answer so I can try to understand. Thanks. |
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