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Majorn Auto Parts Store had net income of $98,000 for the year just ended. Majorn collected the following additional information to prepare its statement of
Majorn Auto Parts Store had net income of $98,000 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 | $ 136,000 |
---|---|
Decrease in inventory | $ 35,000 |
Decrease in accounts payable | $ 52,000 |
Increase in retained earnings | $ 46,000 |
Cash received from sale of building | $ 232,000 |
Gain on sale of building | $ 64,000 |
Depreciation expense | $ 49,000 |
Majorn uses the indirect method to prepare its statement of cash flows. What is Majorn's net cash provided by (used in) operating activities?
Multiple Choice
$(70,000)
$330,000
$236,000
$58,000
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