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Trenton reports net income of $235,000 for the year ended December 31, Year 2. It also reports $89,900 depreciation expense and a $5,250 gain on
Trenton reports net income of $235,000 for the year ended December 31, Year 2. It also reports $89,900 depreciation expense and a $5,250 gain on the sale of equipment. Its comparative balance sheet reveals a $36,500 decrease in accounts receivable, a $16,250 increase in accounts payable, and a $12,850 decrease in wages payable. Calculate the net cash provided (used) in operating activities using the indirect method.
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