Nordstrand Company's net income last year was $36,000. Changes in selected balance sheet accounts for the year appear below:
Increases
(Decreases)
Debit balance:
Account receivable ($7,000)
Inventory ($5,000)
Prepaid expenses $3,000
Credit balances
Accumulated depreciation $18,000
Accounts payable $13,000
Accrued liabilities ($9,000)
Taxes payable $0
Deferred taxes $1,000
Based solely on this information, the net cash provided by operations under the indirect method on the statement of cash flows would be: a. $4,000 b. $68,000 c. $50,000 d. $54,000