28.Loster Company reported a net loss of $11,979 for the year ended December 31. During the year, accounts receivable decreased by $7,986, inventory increased by $7,766, accounts payable increased by $15,260, and depreciation expense of $6,777 was recorded. What was the net cash used for or provided by operating activities during the year? Select the correct answer. provided net cash of $10,278. provided net cash of $11,979. used net cash of $10,278. used net cash of $11,979.

16.The net income reported on the income statement for the current year was $271,778. Depreciation recorded on fixed assets and amortization of patents for the year were $37,602, and $11,136, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: End Beginning Cash $35,768 $53,487 Accounts receivable 105,847 127,594 Inventories 89,568 102,744 Prepaid expenses 8,428 3,293 Accounts payable (merchandise creditors) 65,146 47,361 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method? Select the correct answer. $368,089 $355,439 $275,857 $289,025

24.If accounts payable have increased during a period, a. expenses on an accrual basis are greater than expenses on a cash basis. b. expenses on an accrual basis are less than expenses on a cash basis. c. revenues on an accrual basis are less than revenues on a cash basis. d. expenses on an accrual basis are the same as expenses on a cash basis.