Reference no: EM132788170
Question - Below is information relating to Ella & Annie Company for the year ended December 31, 2018.
Net income for the year 2018 was $5,000. Depreciation expense included in net income was $8,000.
Accounts receivable decreased $2,000, while inventories increased $4,000.
Accounts payable decreased $7,000.
During the year, a piece of land held for future expansion was sold for its book value of $8,000 and a new service truck was purchased for $14,000.
The company borrowed $18,000 on a two-year note from the bank.
Dividends of $6,000 were paid in cash.
Preferred stock was issued to retire $7,000 of long-term notes payable.
The beginning cash balance was $22,000 and the ending balance was $32,000.
Following the indirect method, what is the net cash flows provided/used by operating activities? If it is a positive number (i.e., net cash inflow), please enter as a positive. If it is negative (i.e., net cash outflow), be sure to put a negative sign in front of your answer.
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