Harbor Company reported net income of $60,000 for the year ended December 31, 2014. 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 2014 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, 2014. 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 2014 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