Assume a company had net income of $70,000 and provided the following excerpts from its balance...

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Assume a company had net income of $70,000 and provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 40,000 $ 46,000 Inventory $ 53,000 $ 50,000 Prepaid expenses $ 13,000 $ 11,000 Current liabilities: Accounts payable $ 38,000 $ 44,000 Accrued liabilities. Income taxes payable $ 18,000 $ 15,000 $ 13,000 $ 10,000 If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then based solely on the information provided, the company's net cash provided by (used in) operating activities would be: Assume a company had net income of $70,000 and provided the following excerpts from its balance sheet: This Year Last Year Current assets: Accounts receivable $ 40,000 $ 46,000 Inventory $ 53,000 $ 50,000 Prepaid expenses $ 13,000 $ 11,000 Current liabilities: Accounts payable $ 38,000 $ 44,000 Accrued liabilities. Income taxes payable $ 18,000 $ 15,000 $ 13,000 $ 10,000 If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then based solely on the information provided, the company's net cash provided by (used in) operating activities would be:

Answer rating: 100% (QA)

To calculate the net cash provided by used in operating activities using the indirect method we star... View the full answer