The October accounting records of Morrison & Associates include these accounts:

Requirement
Compute Morrison & Associates€™ net cash provided by operating activities during October. Use the indirect method.€ƒ

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Cash 12,000 Payments 6,000 Accounts Receivable Oct 1 Receipts Oct 31 400,000 Oct 1 Sales Oct 31 16,000 Collections 394,000 394,000 391,000 13,000 Invento 20,000 Cost of goods sold 309,000 Payments 32,000 Accounts Pavable 319,000 0ct 1 Oct 1 Purchases Oct 31 19,000 321,000 21,000 321,000 Purchases Oct 31 Accumulated Depreciation Retained Earnings Oct 1 Depreciation Oct 31 24,000 0ct 1 49,000 Dividends 10,000 59,000 Net income Oct 31 67,000 50,000 93,000