Question
Majorn Auto Parts Store had net income of $84,000 for the year just ended. Majorn collected the following additional information to prepare its statement of
Majorn Auto Parts Store had net income of $84,000 for the year just ended. Majorn collected the following additional information to prepare its statement of cash flows for the year:
| Increase in accounts receivable | $ | 108,000 |
| Decrease in inventory | $ | 21,000 |
| Decrease in accounts payable | $ | 38,000 |
| Increase in retained earnings | $ | 32,000 |
| Cash received from sale of building | $ | 218,000 |
| Gain on sale of building | $ | 50,000 |
| Depreciation expense | $ | 35,000 |
Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided by (used in) operating activities?
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International Public Financial Management Essentials Of Public Sector Accounting
Authors: Gary Bandy
1st Edition
081535634X, 978-0815356349
