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Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $13,300 Depreciation expense 13,000 Payment on mortgage payable 16,000 Gain on sale of land 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 Proceeds from the sale of land 8,500 a. $37,700. b. $15,600. c. $14,600. d. $30,400. e. $23,100.

Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $13,300 Depreciation expense 13,000 Payment on mortgage payable 16,000 Gain on sale of land 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 Proceeds from the sale of land 8,500 a. $37,700. b. $15,600. c. $14,600. d. $30,400. e. $23,100.

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 32BEB
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Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $13,300 Depreciation expense 13,000 Payment on mortgage payable 16,000 Gain on sale of land 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 Proceeds from the sale of land 8,500 a. $37,700. b. $15,600. c. $14,600. d. $30,400. e. $23,100.
Transcribed Image Text:Use the following information and the indirect method to calculate the net cash provided or used by operating activities: Net income $13,300 Depreciation expense 13,000 Payment on mortgage payable 16,000 Gain on sale of land 7,300 Increase in merchandise inventory 3,050 Increase in accounts payable 7,150 Proceeds from the sale of land 8,500 a. $37,700. b. $15,600. c. $14,600. d. $30,400. e. $23,100.
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