Net income was $66,300; accounts receivable decreased by $16,500; inventory incr
ID: 2585499 • Letter: N
Question
Net income was $66,300; accounts receivable decreased by $16,500; inventory increased by $7,500; proceeds from the issuance of long-term debt were $21,600; accounts payable decreased by $5,600; equipment purchases were $71,000; depreciation and amortization expense was $28,400. (Amounts to be deducted should be indicated with a minus sign.) Required: Calculate the net cash provided (used) by operating activities for the period.
What I have so far...
Net Income 66,300
Depreciation and amortization expense 28,400
Accounts receivable decreased 16,500
Inventory Increase -7,500
Accounts payable decrease -5,600
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Net cash provided by operating activities
Explanation / Answer
Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up Statementshowing Computations Particulars Amount Total Amount Income 66,300.00 Depreciation and amortisation 28,400.00 Decrease in AR 16,500.00 Increase in inventory (7,500.00) Decrease in AP (5,600.00) Cash flow from operating activities 98,100.00 Note proceeds from the issuance of long-term debt Financing activity equipment purchases Investing activity