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Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in ...

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Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in ...

Michael's Industries reported net income of $10,000 and paid cash dividends of $2,000. Changes in balance 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
Depreciation expense	1,000
Accounts payable	6,000
Accrued liabilities	(2,000)

What is the amount of net cash provided by operations?

▸ $17,000

▸ $14,000

▸ $30,000

▸ $1,000

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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