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A company's income statement showed the following: net income, $130,000; depreciation expense, $33,000; and gain on sale of plant assets, $17,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,000; merchandise inventory increased $21,000; prepaid expenses decreased $6,800; accounts payable increased $4,000. Calculate the net cash provided or used by operating activities.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9966660

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