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Prepare a reconciliation of net income to net cash provided by operating activities for American Express Company for the year ending December 31, 2023. Data:

Prepare a reconciliation of net income to net cash provided by operating activities for American Express Company for the year ending December 31, 2023. Data: net income $1,200,000, depreciation $100,000, increase in accounts receivable $60,000, decrease in accounts payable $40,000, increase in inventory $80,000. Discuss the significance of each adjustment in the reconciliation process.

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