Norbury Corporation's net income last year was $18,000. The company did not sell or retire...
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Accounting
Norbury Corporation's net income last year was $18,000. 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:
Increases (Decreases)
Asset and Contra-Asset Accounts:
Accounts receivable
$
10,500
Inventory
$
(3,000
)
Prepaid expenses
$
6,000
Accumulated depreciation
$
18,000
Liability Accounts:
Accounts payable
$
10,000
Accrued liabilities
$
(7,500
)
Income taxes payable
$
2,100
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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