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Question
the net income reported on the income statement for the current year was $1,260,000. depreciation recorded on plant assets was $57,000. accounts receivable and inventories increased by $12,000 and $48,000, respectively. prepaid expenses and accounts payable decreased by $6,000 and $66,000, respectively. how much cash was provided by operating activities?
a.$1,140,000
b.$1,260,000
c.$1,197,000
d.$1,476,000
Answer
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