Use the following balance sheet information and other data to determine net cash from operating activities:
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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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