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Exercise 9-12 Wildhorse Company completed its first year of operations on December 31, 2017. Its nitial income statement showed that Wildhorse had ngvenues of $226,600

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Exercise 9-12 Wildhorse Company completed its first year of operations on December 31, 2017. Its nitial income statement showed that Wildhorse had ngvenues of $226,600 and operating expenses of $92,000. Accounts rece able and accounts payable at year end were $70,800 and $27,100, respectively. Assume that accounts payable related to operating expenses. Ignore income taxes. Calculate net cash provided by operating activities using the direct method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000, or in parenthesis e.g. (15,000)

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