Reconciling Net Income to Cash from Operations
Zephre Company reported net income for the year of $68,000. Depreciation expense for the year was $15,000. During the year, accounts receivable increased by $4,000, inventory decreased by $6,000, accounts payable increased by $3,000, and accrued expenses payable decreased by $2,000. Reconcile the amount of net income to the amount of cash provided by or used for operating activities.
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