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Rice Company, a retailer, has provided the following information pertaining to its recent year of operation: Net income, $100,000 Accounts receivable increased $9,000 Prepaid insurance
Rice Company, a retailer, has provided the following information pertaining to its recent year of operation:
- Net income, $100,000
- Accounts receivable increased $9,000
- Prepaid insurance decreased $3,000
- Depreciation expense was $15,000
- Gain on sale of land, $2,000
- Wages payable decreased $7,000
- Unearned revenue increased $11,000
Using the indirect method, how much was Rice's net cash provided by operating activities?
$125,000
$115,000
$111,000
$89,000.
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