Question: Bernard, Inc. prepares a statement of cash flows using the visual inspection method. In 2016, Bernard had net income of $54,000. In addition, the following

Bernard, Inc. prepares a statement of cash flows using the visual inspection method. In 2016, Bernard had net income of $54,000. In addition, the following information is available:

Gain on sale of land $16,000

Decrease in inventories 10,000

Amortization of patents 4,000

Increase in prepaid expenses 3,000

What net cash provided by operating activities should Bernard report in 2016?

a. $46,000

b. $72,000

c. $49,000

d. $50,000

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