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Use the following information and the indirect method to calculate the net cash ...
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Use the following information and the indirect method to calculate the net cash provided or used by operating activities:
| Net income | $ 86,800 |
|---|---|
| Depreciation expense | 13,500 |
| Gain on sale of land | 6,800 |
| Increase in merchandise inventory | 3,550 |
| Increase in accounts payable | 7,650 |
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