Question

Duffy had net income of $95,000 for the year just ended. Duffy collected the following additional information to prepare its statement of cash flows for the year. Accounts Receivable increased by $191,000, Inventory decreased by $32,000, Accounts Payable decreased by $49,000, and Depreciation charges amounted to $46,000. Duffy uses the indirect method to prepare its statement of cash flows. What is Duffy's net cash provided by (used in) operating activities?

Answer 1

Answer:

Assume the Accumulated Depreciation account had beginning and ending ... Duffy Inc., had net income of $95,000 for the year just ended. Duffy collected the following additional information to prepare its statement of cash flows for the year. ... increased by $191,000, Inventory decreased by $32,000, Accounts Payable ...

Step-by-step explanation: