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A company's income statement showed the following: net income, $124,000; depreciation expense, $35,000; and 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 $7,200; accounts payable increased $4,400. Calculate the net cash provided or used by operating activities.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91962413

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