Question: Current Attempt in Progress Cullumber Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024
Current Attempt in Progress Cullumber Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024 2023 Accounts receivable $33,600 $50,400 Inventory 52,920 58,800 Prepaid expenses 3,360 1,680 Accounts payable 29,400 33,600 Income tax payable 13,440 8,400 Depreciation expense 42,000 Gain on sale of equipment 38,000 Profit for the year 277,200 Calculate the net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a-sign eg. -15,000 or in parenthesis e.g. (15,000).) Net cash operating activities
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