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Michael's Industries Reported Net Income of $10,000 and Paid Cash

Question 69

Multiple Choice

Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000.Changes in balanced sheet accounts for the year were as follows:
 Increase  Decrease  Accounts receivable $5,000 Inventory 3,000 Property, plant and equipment 15,000 Accumulated depreciation 3,000 Accounts payable 6,000 Accrued liabilities 2,000\begin{array}{lc} & \bold{\text { Increase }} \\& \bold{\text { Decrease }} \\\text { Accounts receivable } & \$ 5,000 \\\text { Inventory } & 3,000 \\\text { Property, plant and equipment } & 15,000 \\\text { Accumulated depreciation } & 3,000 \\\text { Accounts payable } & 6,000 \\\text { Accrued liabilities } & 2,000\end{array} Based on the above information,what is the amount of net cash provided by operations?


A) $1,000
B) $14,000
C) $19,000
D) $30,000

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