Computing cash flows from operating activities—indirect method OMD Equipment, Inc., reported the following data for 2012:
|
Income statement |
|
|
Net income |
$ 44,000 |
|
Depreciation |
8,000 |
|
Balance sheet |
|
|
Increase in Accounts receivable |
7,000 |
|
Decrease in Accounts payable |
4,000 |
Requirement
1. Compute OMD’s net cash provided by operating activities—indirect method.