Norton Company reported total sales revenue of $55,000,total expenses of $45,000,and net income of $10,000 on its income statement for the year ended December 31,2010.During 2010,accounts receivable decreased by $4,000,merchandise inventory decreased by $6,000,accounts payable increased by $2,000,and depreciation of $8,000 was recorded.Therefore,based only on this information,the net cash flow from operating activities using the indirect method for 2010 was:

Question

Quizplus · Accepted Answer

Net income + Depreciation - Decrease in AR - Decrease in Inventory + Increase in AP = Net cash flow from operating activities10,000 + 8,000 - 4,000 - 6,000 + 2,000 = 30,000

Norton Company Reported Total Sales Revenue of $55,000,total Expenses of $45,000,and