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Orebic Department Store had net income of $642,000 for the year ended December 31, 2017. Orebic collected the following additional information to prepare its statement
Orebic Department Store had net income of $642,000 for the year ended December 31, 2017. Orebic collected the following additional information to prepare its statement of cash flows for the year: Decrease in accounts receivable $128,000 Decrease in merchandise inventory $59,000 Decrease in accounts payable $22,000 Increase in taxes payable $16,000 Increase in retained earnings $420,000 Depreciation expense $44,000 Orebic used the indirect method to present operating activities in its statement of cash flows. What was Orebic's net cash provided by (used in) operating activities for 2017? Multiple Choice $607,000 $867,000 $645,000 $823,000
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