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6. Penn Corp. reported the following information for 2017 and 2018: 2017 2018 Accounts receivable $170 000 Prepaid expenses Accounts payable Salaries payable Total comprehensive
6. Penn Corp. reported the following information for 2017 and 2018: 2017 2018 Accounts receivable $170 000 Prepaid expenses Accounts payable Salaries payable Total comprehensive income Depreciation expense Gain on sale of equipment $20 000 8 00040 000 55 000 90 000 10 000 350 000 5 000 7 000 13 000 If Penn uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2018? a) $505000 b) $198000 c) $498000 d) $376000
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