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The comparative balance sheets for Montalvo Company show these changes in noncash current asset accounts: accounts receivable decrease $80,000, prepaid expenses increase $28,000, and inventories
The comparative balance sheets for Montalvo Company show these changes in noncash current asset accounts: accounts receivable decrease $80,000, prepaid expenses increase $28,000, and inventories increase $30,000. Compute net cash provided by operating activities using the indirect method assuming that net income is $300,000. Net income Adjustments to reconcile net income to net cash provided by operating activities Decrease in accounts receivable Increase in prepaid expenses Increase in inventory Net cash provided by operating activities
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