Michaels Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in balanced sheet
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Michael’s Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in balanced sheet accounts for the year were as follows:
| | Increase (Decrease) |
| Accounts receivable | ($5,000) |
| Inventory | 3,000 |
| Property, plant and equipment | 15,000 |
| Accumulated depreciation | 3,000 |
| Accounts payable | 6,000 |
| Accrued liabilities | (2,000) |
Based on the above information, what is the amount of net cash provided by operations?
a. $1,000
b. $30,000
c. $19,000
d. $14,000
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