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Dayton Company reported a net loss of $88,000 for the year. During the year, the company had $22,000 of Depreci Expense and incurred a
Dayton Company reported a net loss of $88,000 for the year. During the year, the company had $22,000 of Depreci Expense and incurred a $68,000 loss on the cash sale of equipment. In addition, the company had the following cha in balance sheet accounts during the year: Accounts Payable Accounts Receivable $2,000 decrease $14,000 decrease Merchandise Inventory $4,000 increase Using the indirect method, what is the amount of cash provided (used) by operating activities? O ($58,000) O ($10,000) O $10,000 O None of the answer choices is correct. $14,000
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