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Engel, Inc. reported net income of $1.6 million in 2020. Depreciation for the year was $140,000, accounts receivable increased $250,000, and accounts payable increased $210,000.
Engel, Inc. reported net income of $1.6 million in 2020. Depreciation for the year was $140,000, accounts receivable increased $250,000, and accounts payable increased $210,000. The company also had a gain on disposal of plant assets of $19,000. Compute net cash provided by operating activities using the indirect method.
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