Question 21 1 points A company's income statement showed the following: Net Income = $124,000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9,400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You must make adjustments to Net Income for certain data reported on the Income Statement and Balance Sheet: For Accounts Receivable, will you add or subtract its dollar amount from Net Income? O Add Subtract Question 22 1 points A company's income statement showed the following: Net Income = $124,000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9,400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You must make adjustments to Net Income for certain data reported on the Income Statement and Balance Sheet: For Merchandise Inventory, will you add or subtract its dollar amount from Net Income? . Add Subtract Question 23 1 points A company's income statement showed the following: Net Income $124,000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets - $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9.400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You must make adjustments to Net Income for certain data reported on the Income Statement and Balance Sheet: For Prepaid Expenses, will you add or subtract its dollar amount from Net Income? . Add Subtract Question 24 1 points A company's income statement showed the following: Net Income $124,000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9.400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You must make adjustments to Net Income for certain data reported on the Income Statement and Balance Sheet: For Accounts Payable, will you add or subtract its dollar amount from Net Income? Add Subtract D Question 25 1 points A company's income statement showed the following: Net Income $124,000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9.400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You must make adjustments to Net Income for certain data reported on the Income Statement and Balance Sheet: For Depreciation Expense, will you add or subtract its dollar amount from Net Income? Add Subtract 1 points Question 26 A company's income statement showed the following: Net Income = $124.000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9,400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You must make adjustments to Net Income for certain data reported on the Income Statement and Balance Sheet: For Gain on Sale of Plant Assets, will you add or subtract its dollar amount from Net Income? Add Subtract 5 points Question 27 A company's income statement showed the following: Net Income $124.000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9.400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 . Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You have identified all of the adjustments to Net Income. What is the dollar amount of net cash that was provided or used by operating activities? Important: If a negative number, type a minus sign "-" in front of the number for your answer, such as -10. 4 points D Question 28 A company's income statement showed the following: Net Income = $124,000 Depreciation Expense = $30,000 Gain on Sale of Plant Assets = $14,000 An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: Accounts Receivable decreased $9,400 Merchandise Inventory increased $18,000 Prepaid Expenses decreased $6,200 Accounts Payable increased $3,400 You must prepare the Statement of Cash Flows Operating Activities Section, using the indirect method. You have identified all of the adjustments to Net Income and you have calculated the dollar amount of net cash that was provided or used by operating activities. Specify if net cash was provided or used by operating activities during this reporting period. Provided Used