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The comparative balance sheets for Mutiny Tours show the following changes in noncash current asset accounts: Accounts receivable decreased $75,000; prepaid expenses increased by $16,000,
The comparative balance sheets for Mutiny Tours show the following changes in noncash current asset accounts: Accounts receivable decreased $75,000; prepaid expenses increased by $16,000, and inventories increased $30,000.
Compute net cash provided by operating activities using the indirect method, assuming that net income is $250,000.
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