Rowan Incs income statement is shown below Based on this income statement

Question

Rowan, Inc.'s, income statement is shown below. Based on this income statement and the other information provided, calculate the net cash provided by operations using the indirect method.

Rowan, Inc. Income Statement For Year Ended December 31, 2015
Sales		$248,000
Cost of goods sold		116,000
Gross profit		$132,000
Operating expenses
Wages and salaries expense	$ 44,000
Rent expense	16,000
Depreciation expense	30,000
Other operating expenses	18,000	108,000
Income from operations		$ 24,000
Gain on sale of equipment		26,000
Income before income taxes		$ 50,000
Income taxes expense		17,500
Net income		$ 32,500

Additional information:

Increase in accounts receivable	$ 4,000
Increase in accounts payable	16,000
Increase in income taxes payable	300
Decrease in prepaid expenses	10,000
Decrease in merchandise inventory	14,000
Decrease in long-term notes payable	20,000