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Kunitz Dance Studio had net income of $195,000 for the year just ended. Kunitz collected the following additional information to prepare its statement of cash
Kunitz Dance Studio had net income of $195,000 for the year just ended. Kunitz collected the following additional information to prepare its statement of cash flows for the year: Decrease in accounts receivable $ 31,000 Increase in accounts payable $ 18,000 Increase in retained earnings $106,000 Cash paid for purchase of new music $ 27.000 equipment Depreciation expense $ 6,400 Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities? Multiple Choice O $250,400 O $116,000 O $152,400 O $236,800
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