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Assume a company had net income of $60,000 and provided the following excerpts from its balance sheet: Current assets: Accounts receivable Inventory Prepaid expenses
Assume a company had net income of $60,000 and provided the following excerpts from its balance sheet: Current assets: Accounts receivable Inventory Prepaid expenses Current liabilities: Accounts payable Accrued liabilities Income taxes payable This Year Last Year $40,000 $46,000 $53,000 $50,000 $13,000 $11,000 $38,000 $44,000 $18,000 $15,000 $13,000 $10,000 If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then based solely on the information provided, the company's net cash provided by (used in) operating activities would be: $40,000 $56,000 $80,000 $82,000
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