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The net income reported on the income statement for the current year was $635,000. Depreciation recorded on plant assets was $29,000. Accounts receivable and inventories
The net income reported on the income statement for the current year was $635,000. Depreciation recorded on plant assets was $29,000. Accounts receivable and inventories increased by $1,200 and $3,600, respectively. Prepaid expenses and accounts payable decreased by $800 and $16,000 respectively. How much cash was provided by operating activities?
a. $685,600
b. $644,000
c. $642,400
d. $652,000
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