Kinder Company reported a Gain on Sale of Asset of $5,000 and Depreciation Expense of...
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Accounting
Kinder Company reported a Gain on Sale of Asset of $5,000 and Depreciation Expense of $35,000 on its 2020 Income Statement and the following on its 2020 and 2019 Balance Sheet:
| 2020 | 2019 | |
| Accounts receivable | $42,000 | $29,000 |
| Inventory | $60,000 | $80,000 |
| Prepaid rent | $5,000 | $4,000 |
| Accounts payable | $36,000 | $32,000 |
| Income tax payable | $14,000 | $16,000 |
| Accrued liabilities | $8,000 | $4,000 |
Using the indirect method, what are total net adjustments to Net Income to arrive at Cash Flows from Operating Activities?
Group of answer choices
$42,000
$17,000
$21,000
$22,000
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