Adjusting Net Income for Noncash Expenses After adjusting net income for changes in current assets and current
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Question:
Adjusting Net Income for Noncash Expenses
After adjusting net income for changes in current assets and current liabilities, Penguin Tuxedo's cash from operating activities is $41,700. However, Penguin reports $9,400 in depreciation expense for the year.
Compute cash from operating activities after considering the impact of depreciation.
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