Gulf Shipping Company had Net Income for 2017 of $5,600,000. The firm invested $4,000,000 in...
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Accounting
Gulf Shipping Company had Net Income for 2017 of $5,600,000.
The firm invested $4,000,000 in manufacturing equipment during 2016 but made no additional capital investments in 2017. The equipment is being depreciated over five years using straight-line depreciation, starting in 2016.
Assuming no other adjustments to cash flow than those mentioned here, create a statement of cash flows for 2017 with amounts in thousands.
What is the Net Cash Flow in 2017?
Please specify your answer in the same units as the statement of cash flows.
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