Harbor Company reported net income of $60,000 for the year ended December 31, Year 1. During the
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Question:
Harbor Company reported net income of $60,000 for the year ended December 31, Year 1. During the year, inventories decreased by $12,000, accounts payable decreased by $18,000, depreciation expense was $20,000 and a gain on disposal of equipment of $9,000 was recorded. Net cash provided by operating activities in Year 1 using the indirect method was:a.$119,000.
b.$65,000.
c.$77,000.
d.$55,000.
Posted Date: