Dane’s Drums & Sticks Inc. used the indirect method to calculate net cash provided by operating activities. During a year, Dane experienced a decrease in accounts receivable of $8,000, an increase in prepaid expenses of $1,000, and an increase in inventory of $4,000. What is the amount of the total adjustment they must make to their profit of $23,000 to complete the calculation?

$13,000

$3,000

$4,000

$5,000

Answer rating: 100% (QA)

Answer Correct Answer Option 2 3000 of net adjustments to be made ... View the full answer