Posted: April 3rd, 2017

A company’s income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000.

A company’s income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company’s current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased ,400; merchandise inventory increased ,000; prepaid expenses decreased ,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.