Question: Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Ohio, Inc. Income Statement Year Ended

Ohio, Inc. uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:

Ohio, Inc.

Income Statement

Year Ended December 31, 2018

Revenues and Gains:

Sales Revenue

$158,000

Interest Revenue

6,300

Total Revenues and Gains

$164,300

Expenses and Losses:

Cost of Goods Sold

$140,000

Salary Expense

21,000

Depreciation Expense

7,000

Other Operating Expenses

13,400

Interest Expense

16,400

Loss on Sale of Plant Assets

5,500

Income Tax Expense

5,500

Total Expenses and Losses

208,800

Net Income (Loss)

$(44,500)

Additional information provided by the company includes the following:

Current assets, other than cash, decreased by $5,100. Current liabilities increased by $2,300.

Compute the net cash provided by (used for) operating activities.

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