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Question
the net income reported on the income statement for the current year was $440,000. depreciation was $100,000. accounts receivable and inventories decreased by $20,000 and $60,000, respectively. prepaid expenses and accounts payable increased, respectively, by $2,000 and $16,000. how much cash was provided by operating activities?
a.$562,000
b.$634,000
c.$602,000
d.$478,000
Answer
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