Howard Industries' 2020 income statement reported total revenues of $875,000 and...
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Howard Industries' 2020 income statement reported total revenues of $875,000 and total expenses of $910,000 (including $60,000 of depreciation). The 2020 comparative balance sheet reported the following: cash- beginning balance, $90,000 and ending balance, $120,000; accounts receivable beginning balance, $50,000 and ending balance $40,000; inventory- beginning balance, $65,000 and ending balance, $70,000; Equipment- beginning balance, $300,000 and ending balance, $325,000; accounts payable-beginning balance, $80,000 and ending balance $95,000. In addition to this information, Howard Industries also reported a $16,000 loss on the sale of equipment. Therefore, based only on this information, 2020 net cash inflow from operating activities was
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