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The following information related to Ophelia Inc. Income Statement Year ended 12/31/2020 Sales $ 95,000 Cost of goods sold (45,000) Depreciation expense (4,000) Salaries expense
The following information related to Ophelia Inc. Income Statement Year ended 12/31/2020 Sales $ 95,000 Cost of goods sold (45,000) Depreciation expense (4,000) Salaries expense (14,000) Gain on sale of land 7,500 Net Income $ 39,500 Partial Balance Sheet 2020 2019 Change Accounts receivable $25,000 $23,000 $2,000 Accounts payable 12,000 9,000 3,000 Long term debt 50,000 55,000 (5,000) Common stock 40,000 40,000 O Retained earnings 89,000 83,000 6,000 Assuming the company uses the indirect method to prepare the Statement of Cash Flows what was the total cash provided by operating activities for 2020
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