Felix Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: 
Additional information provided by the company includes the following: 1) Current assets, other than cash, increased by $24,000
"2) Current liabilities decreased by $1,000
How much is the net cash provided by operating activities?"
Definitions:
Taxes Combined
A calculation that aggregates all applicable taxes (federal, state, local) on an individual or entity's income.
Effective Tax Rate
The average percentage of income paid to the government in taxes, considering all deductions and credits.
Future Value
The value of a current asset at a specified date in the future based on an assumed rate of growth over time.
Deferral of Taxes
The postponement of taxes to a future period, commonly used in retirement savings plans and investment accounts.
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