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Apple Slicer Company reported net income of $20,000 for the year ended December 31, 2020. During the year, inventories decreased by $7,000, accounts payable decreased
Apple Slicer Company reported net income of $20,000 for the year ended December 31, 2020. During the year, inventories decreased by $7,000, accounts payable decreased by $8,000, depreciation expense was $10,000, and accounts receivable increased by $6,500. Net cash provided by operations in 2020, computed using the indirect method, was: Multiple Choice $38,500. $22,500. $10,500. $51,500
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