Norbury Corporation's net income last year was $18,000. The company did not sell or retire...
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Norbury Corporation's net income last year was $18,000. The company did not sell or retire any property, plant, and equipment last year. Changes in selected balance sheet accounts for the year appear below:
| Increases (Decreases) | |||
| Asset and Contra-Asset Accounts: | |||
| Accounts receivable | $ | 10,500 | |
| Inventory | $ | (3,000 | ) |
| Prepaid expenses | $ | 6,000 | |
| Accumulated depreciation | $ | 18,000 | |
| Liability Accounts: | |||
| Accounts payable | $ | 10,000 | |
| Accrued liabilities | $ | (7,500 | ) |
| Income taxes payable | $ | 2,100 | |
Based solely on this information, the net cash provided by (used in) operating activities under the indirect method on the statement of cash flows would be:
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