28) You have chosen the indirect method to calculate and report net cash provided or used by operating activities. Which one of the following is subtracted from net income to arrive at The correct answer? 28) A) Bad debts expense B) Amortization of intangible assets. C) Decrease in income taxes payable. D) Decrease in merchandise inventory E) Depreciation expense. 29) Castro Inc. had a net decrease in cash of $10,000 for the current year as found on the Statement of Cash Flows. Net cash used in investing activities was $52,000 and net cash used in financing activities was $38,000. What amount of cash was provided (used) in operating activities? 29) A) $80,000 provided. B) $(100,000) used. C) $(10,000) used. D) $100,000 provided. E) $(80,000) used. 8 | Page