The following information relates to Jelsa Corporation for last year:
|
Net income |
$64,000 |
|
Net decrease in all current assets except cash |
$7,000 |
|
Net increase in current liabilities |
$16,000 |
|
Dividends paid on common stock |
$10,000 |
|
Depreciation expense |
$8,000 |
|
Loss on sale of machinery |
$5,000 |
What is Jelsa”s net cash provided (used) by operating activities for last year on the statement of cash flows? (Assume that current liabilities do not contain any notes payable.)
A) $54,000
B) $58,000
C) $68,000
D) $100,000