Problem
Rose Corporation reported net income of $240,000 for 2017. Changes occurred in several balance sheet accounts as follows:
Equipment . . . . . . . . . . . . . . . . . . . . . . . .. $ 20,000 increase
Accumulated depreciation . . . . . . . . . . . .. 14,000 increase
Long-term Note payable . . . . . . . . . . . .. 25,000 increase
Additional information:
• During 2017, Rose sold equipment costing $15,000, with accumulated depreciation of $9,000, for a loss of $4,000.
• On December 31, 2017, Rose purchased equipment costing $35,000 with $10,000 cash and a 12% note payable of $25,000.
• Depreciation expense for the year was $23,000.
Using only this information, what is Rose's 2017 net cash provided by operating activities?