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The income statement of a company shows net income of USD 200,000; merchandise inventory on January 1 was USD 76,500 and on December 31 was

The income statement of a company shows net income of USD 200,000; merchandise inventory on January 1 was USD 76,500 and on December 31 was USD 94,500; accounts payable for merchandise purchases were USD 57,000 on January 1 and USD 68,000 on December 31. Compute the cash flows from operating activities under the indirect method.

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