Harbor Company reported net income of $60,000 for the year ended December 31,2011.During the year,inventories decreased by $12,000,accounts payable decreased by $18,000,depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded.Net cash provided by operating activities in 2011 using the indirect method was
A)$119,000.
B)$65,000.
C)$77,000.
D)$55,000.

Question

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The Answer of Harbor Company reported net income of $60,000 for the year ended December 31,2011.During the year,inventories decreased by $12,000,accounts payable decreased by $18,000,depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded.Net cash provided by operating activities in 2011 using the indirect method was
A)$119,000.
B)$65,000.
C)$77,000.
D)$55,000.

Harbor Company Reported Net Income of $60,000 for the Year