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Assuming Net Income for the year is $255,000, what is the net cash flows from operating activities given the following information: Increase in Salaries Payable
Assuming Net Income for the year is $255,000, what is the net cash flows from operating activities given the following information:
| Increase in Salaries Payable | $ | 20,500 | |
| Depreciation Expense | $ | 7,500 | |
| Increase in Prepaid Rent | $ | 27,000 | |
| Loss on sale of asset | $ | 1,100 | |
| Increase in Accounts Payable | $ | 35,000 | |
| Increase in Inventory | $ | 52,000 | |
| Multiple Choice
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