Assume a company had net income of $60,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: $ 40,000 $ 53,000 $ 13,000 $ 46,000 $ 50,000 $ 11,000 Accounts receivable Inventory Prepaid expenses Current liabilities: $ 38,000 $ 18,000 $ 13,000 $ 44,000 $ 15,000 $ 10,000 Accounts payable Accrued liabilities Income taxes payable If the credits to the company's 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 $60,000 that included a gain on the sale of equipment of $4,000. It provided the following excerpts from its balance sheet: This Year Last Year Current assets: $ 40,000 $ 53,000 $ 13,000 $ 46,000 $ 50,000 $ 11,000 Accounts receivable Inventory Prepaid expenses Current liabilities: $ 38,000 $ 18,000 $ 13,000 $ 44,000 $ 15,000 $ 10,000 Accounts payable Accrued liabilities Income taxes payable If the credits to the company's 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:
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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