Cash flows from operations—indirect method The financial statements of Simon Co. include the following items (amounts in thousands):
Income Statement | For the Year Ended December 31, 2011 |
Net income | $420 |
Depreciation and amortization expense | 320 |
Balance Sheets | At December 31 | |
2011 | 2010 | |
Accounts receivable Inventory Accounts payable Income taxes payable | $125 170 80 50 | $170 150 90 15 |
Required:
a. Calculate the net cash flow provided by operations for Simon Co. for the year ended December 31, 2011.
b. Explain why net income is different from the net cash provided by operations.
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