In 2019, La Jolla Company reported net income of $290,000 for the year. Depreciation expense...
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Accounting
In 2019, La Jolla Company reported net income of $290,000 for the year. Depreciation expense was $30,000 and a loss on disposal of equipment of $15,000 was recorded. A comparative balance sheet for select accounts is listed below.
12/31/19
12/31/18
Increase (Decrease)
Accounts Receivable
$60,000
$40,000
$20,000
Inventory
90,000
120,000
(30,000)
Equipment
105,000
65,000
40,000
Accounts Payable
40,000
45,000
(5,000)
What is the net cash provided by operating activities in 2019 using the indirect method?
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