Neal Company Reported Net Income of $160,000

question 54

Essay

Neal Company reported net income of $160,000. For 2014, depreciation was $40,000, and the company reported a gain on disposal of investments of $10,000. Accounts receivable increased $25,000 and accounts payable decreased $20,000.
Instructions
Compute net cash provided by operating activities using the indirect method.

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Definitions:

Cotton Kingdom

The term used to describe the Southern United States in the 19th century, where the economy was heavily dependent on cotton cultivation and slavery.

Slave Labor

The forced labor of individuals who are owned by others, without the freedom to refuse work and without rightful compensation.

Deep South

A term used to describe the most south-eastern states of the United States, known for their historical reliance on agriculture, particularly cotton, and where slavery and racial segregation were deeply rooted.

Irish Immigrants

Individuals from Ireland who moved to other countries, notably the United States, in significant numbers, especially during the 19th and early 20th centuries, seeking better opportunities.