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Question:3.5 A company's income statement showed the following: Net income Depreciation expense $124,000 $35,000 Gain on sale of plant assets $9,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts receivable decreased $10,400 Merchandise inventory increased $23,000 Prepaid expenses increased Accounts payable increased $7,200 $4,400 Calculate the net cash provided or used by operating activities.

Question:3.5 A company's income statement showed the following: Net income Depreciation expense $124,000 $35,000 Gain on sale of plant assets $9,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts receivable decreased $10,400 Merchandise inventory increased $23,000 Prepaid expenses increased Accounts payable increased $7,200 $4,400 Calculate the net cash provided or used by operating activities.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 19P
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Question 3.5

Question:3.5 A company's income statement showed the following: Net income Depreciation expense $124,000 $35,000 Gain on sale of plant assets $9,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts receivable decreased $10,400 Merchandise inventory increased $23,000 Prepaid expenses increased Accounts payable increased $7,200 $4,400 Calculate the net cash provided or used by operating activities.
Transcribed Image Text:Question:3.5 A company's income statement showed the following: Net income Depreciation expense $124,000 $35,000 Gain on sale of plant assets $9,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts receivable decreased $10,400 Merchandise inventory increased $23,000 Prepaid expenses increased Accounts payable increased $7,200 $4,400 Calculate the net cash provided or used by operating activities.
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