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Problem - The Laver Company's 2007 Income Statement showed net income equal to $40,000, with depreciation expense equal to $6,000. Their balance sheet reported the following: accounts receivable - beginning balance, $30,000 and ending balance $27,000; wages payable - beginning balance $12,000, and ending balance $16,000; and income taxes payable - beginning balance $10,000, and ending balance $8,000. Based only on the above data, calculate the net cash inflow from operating activities using the indirect method during 2007?
a. $53,000
b. $43,000
c. $47,000
d. $45,000
e. $51,000
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