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Use the income statement and the list of changes to answer the question.
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?
