Knowledge Check 03 Duffy Incorporated, had net income of $95,000 for the year just ended. Duffy...

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Knowledge Check 03 Duffy Incorporated, had net income of $95,000 for the year just ended. Duffy collected the following additional information to prepare its statement of cash flows for the year. Accounts Receivable increased by $191,000, Inventory decreased by $32,000, Accounts Payable decreased by $49,000, and Depreciation charges amounted to $46,000. Duffy uses the indirect method to prepare its statement of cash flows. What is Duffy's net cash provided by (used in) operating activities? $55,000 $(67,000) O $227,000 $321,000 2 Knowledge Check 03 Duffy Incorporated, had net income of $95,000 for the year just ended. Duffy collected the following additional information to prepare its statement of cash flows for the year. Accounts Receivable increased by $191,000, Inventory decreased by $32,000, Accounts Payable decreased by $49,000, and Depreciation charges amounted to $46,000. Duffy uses the indirect method to prepare its statement of cash flows. What is Duffy's net cash provided by (used in) operating activities? $55,000 $(67,000) O $227,000 $321,000 2

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