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The net income reported on the income statement of Sheffield Corp. for the current year was $1442000. Depreciation recorded on plant assets was $272000.
The net income reported on the income statement of Sheffield Corp. for the current year was $1442000. Depreciation recorded on plant assets was $272000. Accounts receivable and inventories increased by $76000 and $51000, respectively. Prepaid expenses and accounts payable decreased by $6000 and $70000, respectively. How much cash was provided by operating activities during the year? $1523000. $1463000. $1905000. $1590000.
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