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Use the following balance sheet information and other data to determine net cash from operating activities:
Dec. 31, 19X1
Dec. 31, 19X2
Accounts Receivable
$ 4,000
$ 7,000
Merchandise Inventory
10,000
8,000
Prepaid Insurance
1,000
700
Accounts Payable
12,000
6,000
Rent Payable
9,000
16,000
Dividends Payable
2,000
2,500
Bonds Payable
50,000
40,000
Other Data:
(1)
Net income
$25,000
(2)
Depreciation expense
5,000
(3)
Amortization of Franchise Fee
3,000
(4)
Amortization of bond premium
900
(5)
Amortization of patent
1,400
(6)
Gain on sale of plant
4,400
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