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  2. Topic
    Business
  3. Study Set
    Using Financial Accounting
  4. Exam
    Exam 12: The Statement of Cash Flows
  5. Question
    Net Income Was $61,000 for the Year
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Net Income Was $61,000 for the Year

Question 2

Question 2

True/False

Net income was $61,000 for the year.The accumulated depreciation balance increased by $14,000 over the year.There were no sales of fixed assets or changes in noncash current assets or liabilities.Under the indirect method,the cash flow from operations is $47,000.

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