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A company's income statement showed the following: net income, $133,000; depreciation expense, $39,500; and gain on sale of plant assets, $13,500. An examination of the
A company's income statement showed the following: net income, $133,000; depreciation expense, $39,500; and gain on sale of plant assets, $13,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,300; merchandise inventory increased $27,500; prepaid expenses increased $8,100; accounts payable increased $5,300. Calculate the net cash provided or used by operating activities.
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