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  3. a company's income statement showed the following:

A company's income statement showed the following: net income, $123,000; depreciation expense, $34,500; and gain...

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Accounting

A company's income statement showed the following: net income, $123,000; depreciation expense, $34,500; and gain on sale of plant assets, $8,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,300; merchandise inventory increased $22,500; prepaid expenses increased $7,100; accounts payable increased $4,300. Calculate the net cash provided or used by operating activities.

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