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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