Question - Bloom Corporation had the following 2012 income statement.
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Sales
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$200,000
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Cost of goods sold
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120,000
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Gross profit
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80,000
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Operating expense (including depreciation of $21,000)
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50,000
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Net income
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$30,000
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The following accounts increased during 2012: accounts receivable $12,000; inventory $11,000; accounts payable $13,000. Complete the cash flows from operating activities section of Bloom's 2012 statement of cash flows using the direct method.