JMB Photography reported net income of $100,000 for 2011. Included in the income statement were depreciation expense of $6,000, patent amortization expense of $2,000, and a gain on sale of equipment of $3,600. JMB’s comparative balance sheets show the following balances.
|
December 31, 2010 |
December 31, 2011 |
|
|
Accounts receivable |
27,000 |
21,000 |
|
Accounts payable |
6,000 |
9,200 |
Calculate net cash provided by operating activities for JMB Photography. (List amounts from largest positive to smallest positive followed by most negative to least negative, with depreciation expense listed first, e.g. 15, 14, 10, -17, -5, -1. If amount decreases cash flow, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)