Use the income statement and the list of changes to answer the question.
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Use the income statement and the list of changes to answer the question.
Torche Corporation
Income Statement
January 1 to December 31, 2018
(amounts in thousands)
Revenue9,100
Cost of Goods Sold (COGS)2,730
Gross Income6,370
Sales, General, & Administrative Expenses (SG&A)910 Depreciation Expense500 Other Expenses600
Earnings Before Interest & Taxes (EBIT)4,360
Interest180
Pre-Tax Income4,180
Income Taxes1,672
Net Income2,508
Between January 1 and December 31, 2018:
1. Accounts Receivable increase by $800,000
2. Accounts Payable decrease by $400,000
3. Gross Property, Plant, & Equipment increase by $5,400,000
4. Long Term Debt increases by $100,000
Assume no other changes
What is the Net Cash Flow?
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