Majorn Auto Parts Store had net income of $90,000 for the year just ended. Majorn collected the
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Question:
Majorn Auto Parts Store had net income of $90,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year: |
Increase in accounts receivable | $120,000 |
Decrease in inventory | $27,000 |
Decrease in accounts payable | $44,000 |
Increase in retained earnings | $38,000 |
Cash received from sale of building | $224,000 |
Gain on sale of building | $56,000 |
Depreciation expense | $41,000 |
Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided (used) by operating activities? |
Related Book For
Financial Management Principles and Applications
ISBN: 978-0134417219
13th edition
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
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