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Relevant Account Balances for Jeremy Supply Co Determine the Amount of Cash Provided (Used) by Operations for Accounts

Question 67

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Relevant account balances for Jeremy Supply Co. are:
 Accounts 12/31/171/01/17 Accounts receivable $16,000$9,000 Inventory 6,0003,000 Accounts payable 11,00020,000 Income information:  Revenue $48,000 Cost of goods sold $27,000 Operating expenses 18,000 Depreciation 5,00050,000 Net loss $(2,000)\begin{array}{lrr}\text { Accounts } & 12 / 31 / 17 & 1 / 01 / 17 \\\hline \text { Accounts receivable } & \$ 16,000 & \$ 9,000 \\\text { Inventory } & 6,000 & 3,000 \\\text { Accounts payable } & 11,000 & 20,000\\\\\\\text { Income information: }\\ \text { Revenue } & & \$ 48,000 \\ \text { Cost of goods sold } & \$ 27,000 & \\ \text { Operating expenses } & 18,000 & \\ \text { Depreciation } &\underline{ 5,000} &\underline{ 50,000} \\\text { Net loss }&&\underline{\$(2,000)}\end{array}
Determine the amount of cash provided (used) by operations for 2017.

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