Reference no: EM132368130
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BlueInk Corporation's accumulated depreciation increased by $14,000, while patents decreased by $3,875 between consecutive balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss on sale of land of $1,950. Accounts receivable increased $6,320, inventory decreased $3,125, prepaid expenses decreased $720, and account payable increased $2,760. Reconcile a net income of $55,000 to net cash flow from operating activities.
BlueInk Corporation
Cash Flows from Operating Activities
Net income $ 55,000
Adjustments to reconcile net income to net cash from operating activities:
Depreciation 14,000
Amortization 3,875
Loss on sale of land 1,950
Increase in accounts receivable 6,320
Decrease in inventory 3,125
Decrease in prepaid expenses 720
Increase in accounts payable 2,760
What would the Net cash flows from operating activities be?
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