Use the following balance sheet information and other data to determine net cash from operating…

Use the following balance sheet information and other data to determine net cash from operating activities:

 

 

Dec. 31, 19X1

Dec. 31, 19X2

Accounts Receivable

4,000

7,000

Merchandise Inventory

10,000

8,000

Prepaid Insurance

1,000

700

Accounts Payable

12,000

6,000

Rent Payable

9,000

16,000

Dividends Payable

2,000

2,500

Bonds Payable

50,000

40,000

Other Data:

(1) Net income                                                  $25,000

(2) Depreciation expense                             5,000

(3) Amortization of Franchise Fee             3,000

(4) Amortization of bond premium          900

(5) Amortization of patent                           1,400

(6) Gain on sale of plant                                4,400

 

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