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Anuta_ua [19.1K]
3 years ago
12

Novak Corp. reported net income of $1.20 million in 2022. Depreciation for the year was $192,000, accounts receivable decreased

$420,000, and accounts payable decreased $336,000. Compute net cash provided by operating activities using the indirect approach. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Business
1 answer:
Kay [80]3 years ago
6 0

Answer:

$1,476,000

Explanation:

According to the scenario, computation of the given data are as follows:-  

Statement of The Cash Flow 31 December,2022

Particular                               Amount        Total Amount

Net Income                                                  $1,200,000

Depreciation                                $192,000  

Accounts receivable Decrease   $420,000  

Accounts payable Decrease       ($336,000)  

                                                                 $276,000

Net cash provided by operating activities        $1,476,000

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