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Towson Company prepared the tabulation below at December 31, 2019. Instructions Show how each item should be reported in the statement of cash flows. Use

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Towson Company prepared the tabulation below at December 31, 2019. Instructions Show how each item should be reported in the statement of cash flows. Use parentheses for deductions. (enter the total at the end. (you should NOT enter running totals) Net Income.... $340,000 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation expense, $47.000.......... Decrease in inventory, $13,000....... Decrease in interest receivable, $7,000.. Increase in prepaid expenses, $6,000... Decrease in income taxes payable, $1,500.... Gain on sale of land, $5,000... Net cash provided (used) by operating activities.. Provide an number for an entry for numbers 1-7

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