Question
Majorn Auto Parts Store had net income of $89,000 for the year just ended. Majorn collected the following additional information to prepare its statement of
Majorn Auto Parts Store had net income of $89,000 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 | $ | 118,000 |
| Decrease in inventory | $ | 26,000 |
| Decrease in accounts payable | $ | 43,000 |
| Increase in retained earnings | $ | 37,000 |
| Cash received from sale of building | $ | 223,000 |
| Gain on sale of building | $ | 55,000 |
| Depreciation expense | $ | 40,000 |
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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College Accounting A Practical Approach
Authors: Jeffrey Slater
12th edition
978-0132772068, 133468100, 013277206X, 9780133468106, 978-0133133233
