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Shanequa Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement: Shanequa Company Income Statement Year Ended
Shanequa Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
Shanequa Company | ||
Income Statement | ||
Year Ended December 31, 2025 | ||
Sales Revenue | $250,000 | |
Interest Revenue | 2,600 | |
Gain on Sale of Plant Assets | 6,000 | |
Total Revenues and Gains | $258,600 | |
Cost of Goods Sold | 119,000 | |
Salary Expense | 41,000 | |
Depreciation Expense | 12,000 | |
Other Operating Expenses | 21,000 | |
Interest Expense | 1,700 | |
Income Tax Expense | 5,400 | |
Total Expenses | 200,100 | |
Net Income (Loss) | $58,500 |
Additional information provided by the company includes the following:
1. Current assets, other than cash, increased by
$21,000.
2. Current liabilities decreased by
$1,300.
Compute the net cash provided by (used for) operating activities.
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