Challenging Business Problems with Detailed Answers
a company's income statement showed the following: net income, $129,000; depreciation expense, $37,500; and gain on sale of plant assets, $11,500. the company's current assets and current liabilities showed the following changes: accounts receivable decreased $10,900; merchandise inventory increased $25,500; prepaid expenses increased $7,700; accounts payable increased $4,900. calculate the net cash provided or used by operating activities.