Nelson Companys net income last year was $18,000 and cash dividends declared and paid to...
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Nelson Companys net income last year was $18,000 and cash dividends declared and paid to the company stockholders was $12,000. Changes in selected balance sheet accounts for the year appear below:
15.2 Nelson Company's net income last year was $18,000 and cash dividends declared and paid to the company stockholders was $12,000. Changes in selected balance sheet accounts for the year appear below: Increases (Decreases) Debit Balances: Accounts receivable $(8,000) Inventory $(6,000) Prepaid Expenses $12,000 Credit Balances: Accumulated Depreciation $23,000 Accounts Payable:$(10,000) Accrued Liabilities: $7,000 Taxes Payable: $5,000 Bonds Payable: $40,000 Based solely on this information, the net cash flows from operating activities under the indirect method on the statement of cash flows would be a. $7,000 b. $30,000 c. $17,000 d. $29,000
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