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27 July, 03:26

Harlow Industries reported net income of $28,000 for the current year. During the year, Inventory decreased by $8,500, Accounts Payable decreased by $8,750, Depreciation Expense was $11,500, and Accounts Receivable increased by $8,000. If the indirect method is used, what is the net cash provided by operating activities?

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  1. 27 July, 04:43
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    Answer: $14,250

    Explanation: Using the indirect method of cash flow:

    Operating Activities:

    Net income $28,000

    Less: Decrease in Inventory ($8,500)

    Less: Decrease in Accounts Payable (8,750)

    Add: Depreciation 11,500

    Less: Increase in Accounts Receivable (8,000)

    Net cash provided by operating activities $14,250
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