Question
Downsview Corp. reported net income for calendar 2020 of $375,000. Additional information follows: Depreciation on property, plant and equipment............$187,500 Bad debts expense........................................................68,750 Purchase of equipment..................................................31,250
Downsview Corp. reported net income for calendar 2020 of $375,000. Additional information follows:
Depreciation on property, plant and equipment............$187,500
Bad debts expense........................................................68,750
Purchase of equipment..................................................31,250
Interest paid on long-term bonds..................................18,750
Loss on sale of equipment.............................................106,250
Based on the above information, the cash provided by operating activities (indirect method) for calendar 2020 is
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