The following information should be used to according to the provisions of SFAS 95 (Statement of Cash flows) and using the following data.
Net Income .................... $50,000
Provision for bad debts ............... $ 2,000
Increase in Inventory ............... $ 1,000
Increase in accounts payable ............ $ 2,000
Purchase of new equipment ............ $15,000
Sale of equipment for $10,000 gain ......... $20,000
Depreciation expense ............... $ 5,000
Repurchase of common stock ............ $10,000
Payment of dividend ............... $ 4,000
Interest payment .................. $ 3,000
What is net cash flow from operations?
A) $58,000
B) $55,000
C) $54,000
D) $48,000