Reference no: EM131751495
The following selected account balances were taken from ABC Company's accounting recordsduring 2018:
January 1, 2018 December 31, 2018
Inventory 41,000 57,000
Accounts payable 46,000 69,000
Long-term notes payable 130,000 165,000
Income tax payable 11,000 7,000
Investments 89,000 68,000
Accounts receivable 83,000 77,000
Land 60,000 89,000
Common stock 100,000 150,000
Retained earnings 29,000 41,000
The following information was taken from ABC Company's 2018 income statement:
Sales revenue $415,000
Cost of goods sold 373,000
Gain on sale of investments 11,000
Income tax expense 16,000
Net income $ 37,000
Calculate the net cash flow from investing activities for 2018. If your answer is negative, place a minus sign in front of your answer with no spaces in between(e.g., -1234). Do not use decimals in your answer.
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