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?

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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 ...

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