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:.
A) $52,000.
B) $66,000.
C) $53,000.
D) $16,000.