The net loss for the year was $15,000. Depreciation expense was $4,000. Merchandise Inventory decreased by $3,000. Accounts Receivable decreased by $5,000. Accounts Payable decreased by $2,500. Income Tax Payable decreased by $5,000. Calculate the net cash provided or used by operating activities for the year.

Question 23 options:

$10,500 cash used

$10,500 cash provided

$14,500 cash used

$10,000 cash used