Question: Express Corporation had a net income of 66 000 during 2011
Express Corporation had a net income of $66,000 during 2011. During the year, the company had depreciation expense of $28,000. Accounts receivable increased by $22,000, and accounts payable increased by $10,000. Those were the company’s only current assets and current liabilities. Use the indirect method to determine net cash flows from operating activities.
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