Question: The comparative balance sheets for Gale Company show these changes in noncash current asset accounts: Accounts Receivable increased $80,000, Prepaid Expenses decreased $28,000, and Inventory
The comparative balance sheets for Gale Company show these changes in noncash current asset accounts: Accounts Receivable increased $80,000, Prepaid Expenses decreased $28,000, and Inventory increased $30,000. Calculate net cash provided by operating activities using the indirect method assuming that profit is $300,000 for the year ended May 31, 2024. (Show amounts that decrease cash flow with either a-sign es. 15,000 or in parenthesis eg. (15,000)) Net cash operating activities
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