This exercise will enable you to practice reconciling net income with net cash provided by operating activities.
The following data relate to the L. Heckenmueller Co. for 2014.
|
Net income |
$75.000 |
|
Increase in accounts receivable |
7,000 |
|
Decrease in prepaid expenses |
3,200 |
|
Increase in accounts payable |
5.000 |
|
Decrease in taxes payable |
900 |
|
Gain on sale of investment |
1,700 |
|
Depreciation |
3,500 |
|
Loss on disposal of plant assets |
600 |
Instructions
Compute the net cash provided by operating activities for 2014.
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