Question: The comparative balance sheets for JayCee Company showed the following
The comparative balance sheets for JayCee Company showed the following changes in current asset accounts: accounts receivable decreased by $50,000, prepaid expenses decreased by $23,000, and merchandise inventory increased by $17,000. These were all the changes in the current assets and current liability accounts (except cash). Net income for the year was $275,500. Compute net cash provided by or used by operating activities using the indirect method.
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