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Carla Vista Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024 2023 Accounts
Carla Vista Ltd. reported the following information in its balance sheet and income statement for the year ended March 31, 2024: 2024 2023 Accounts receivable $48,000 $72,000 Inventory 75,600 84,000 Prepaid expenses 4,800 2,400 Accounts payable 42,000 48,000 Income tax payable 19,200 12,000 Depreciation expense 60,000 Gain on sale of equipment 54,200 Profit for the year 396,000 Calculate the net cash provided (used) by operating activities using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash provided by operating activities $ 433,000
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1 Net Income The net income for the year is given as 396000 2 Depreciation Expense Depreciation expe...Get Instant Access to Expert-Tailored Solutions
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