Elgin Inc., a service organization, reports the following for calendar Y7: Service revenue $525,000 Cash received from customers 450,000 Interest payments (on long-term debt) 12,000 Salaries and wages paid to employees 157,500 Purchase of new equipment for cash 240,000 Cash dividends paid 30,000 Payments for office rental & general expenses 210,000 Income taxes paid 22,500 Net income 67,500 Elgin adheres to ASPE. Based on the above information, and using the direct method, the cash provided by (used in) operating activities to be reported on Elgin's Y7 statement of cash flows is Question 41 options: $123,000 $48,000 ($222,000) $115,500