End of Chapter Exercise 11.6 Christchurch Motors Pty Ltd completed its first year of operations on 30 June 2015. Its statement of profit or loss showed that the business had revenues of $177,700 and operating expenses of $72,000 including bad debts expense of $1,000. Accounts receivable and accounts payable at year-end were $44,900 and $30,800, respectively Assume that accounts payable related to operating expenses. Ignore income tax. The allowance for doubtful debts is $1,000. There has been no direct write-off of accounts receivable Required Calculate net cash provided by operating activities using the direct method Net cash provided by operating activities $