Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income Depreciation expense Gain on sale of land $ 86,300 13,000 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 $30,400. $14,600. $96,100. O $15,600. O $37,700.

Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income Depreciation expense Gain on sale of land $ 86,300 13,000 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 $30,400. $14,600. $96,100. O $15,600. O $37,700.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 40E

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