ADJUSTING NET INCOME FOR NONCASH EXPENSES After adjusting net income for changes in current assets and current
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ADJUSTING NET INCOME FOR NONCASH EXPENSES After adjusting net income for changes in current assets and current liabilities, Penguin Tuxedo’s cash from operating activities is $40,000. However, Penguin reports $10,000 in depreciation expense for the year. Compute cash from operating activities after considering the impact of depreciation.
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