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Wiley Company reported the following information for the current year ended December 31, 2019: Net income $535,000 Loss on disposal of equipment 45,000 Depreciation expense
Wiley Company reported the following information for the current year ended December 31, 2019: Net income $535,000 Loss on disposal of equipment 45,000 Depreciation expense 60,000 The changes in the current asset and liability accounts for the year are as follows: Increase (Decrease) Accounts receivable $ 19,000) Inventory 6,000 Prepaid insurance (2.000) Accounts payable (7,000) Income taxes payable 2,000 REQUIRED: Calculate and prepare the Net Cash Provided by Operating Activities for the year under the indirect method. (Hint: Use the format provided in the book and illustrated in problems during class)
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