Norbury Corporation's net income last year was $34,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below: Asset and Contra-Asset Accounts: Accounts receivable: Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable Increases (Decreases) $ 12,000 $ (9,000) $ 4,000 $19,000. $ $5,000 $ 7,000 (6,000) Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be:

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Norbury Corporation's net income last year was $34,000. The company did not sell or retire any property, plant, and equipment last year. Changes in
selected balance sheet accounts for the year appear below.
Asset and Contra-Asset Accounts:
Accounts receivable.
Inventory
Prepaid expenses
Accumulated depreciation
Liability Accounts:
Accounts payable
Accrued liabilities
Income taxes payable
Increases
(Decreases)
$ 12,000
$ (9,000)
$ 4,000
$ 19,000
$
$5,000
$ 7,000
(6,000)
Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would
be:
Transcribed Image Text:Norbury Corporation's net income last year was $34,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below. Asset and Contra-Asset Accounts: Accounts receivable. Inventory Prepaid expenses Accumulated depreciation Liability Accounts: Accounts payable Accrued liabilities Income taxes payable Increases (Decreases) $ 12,000 $ (9,000) $ 4,000 $ 19,000 $ $5,000 $ 7,000 (6,000) Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be:
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