Question: Stackhouse International, Inc., completed its first year of operations on June 30, 2010. The firms income statement for the year showed revenues of $250,000 and

Stackhouse International, Inc., completed its first year of operations on June 30, 2010. The firm’s income statement for the year showed revenues of $250,000 and operating expenses of $75,000. Accounts receivable was $71,000 at year end and payables related to operating expense were $35,000 at year end. Compute net cash from operating activities using the direct method.

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