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Question
Use the following information and the indirect method to calculate the net cash provided or used by operating activities:
| Net income | $12,300 |
| Depreciation expense | 12,000 |
| Payment on mortgage payable | 15,000 |
| Gain on sale of land | 7,500 |
| Increase in merchandise inventory | 2,050 |
| Increase in accounts payable | 6,150 |
| Proceeds from sale of land | 8,000 |
A. $12,700
B. $13,900
C. $20,900
D. $28,400
E. $35,900
Answer
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Related questions
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