A business income statement showed the following: 

net income, $144,000; depreciation expense, $40,000; and gain from sale of plant assets, $14,000. 

An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: 

accounts receivable decreased by $11,400; merchandise inventory increased $28,000; prepaid expenses increased $8,200; accounts payable increased $5,400. 

Calculate the net cash provided or used by operating activities.

Answer rating: 100% (QA)

To calculate the net cash provided or used by operating activities using the indirect method we need ... View the full answer