Question: Patterson Company reported net income for the current year of

Patterson Company reported net income for the current year of $666,000. During the year the company’s accounts receivable increased by $50,000, inventory decreased by $23,000, accounts payable decreased by $55,000, and accrued expenses payable increased by $14,000. Determine the amount of cash provided by or used for operating activities by the indirect method.


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  • CreatedApril 17, 2014
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