Use the Following Information and the Indirect Method to Calculate

question 79

Multiple Choice

Use the following information and the indirect method to calculate the net cash provided or used by operating activities: $$\begin{array} { | l | r | } \hline \text { Net incorne } & \$ 12,300 \\\hline \text { Depreciation expense } & 12,000 \\\hline \text { Payment on mortgage payable } & 15,000 \\\hline \text { Gain on sale of land } & 7,500 \\\hline \text { Increase in merchardise inventory } & 2,050 \\\hline \text { Increase in accourts payable } & { 6 , 1 5 0 } \\\hline \text { Proceeds from sale of land } & { 8 , 0 0 0 } \\\hline\end{array}$$

• A) $12,700
• B) $13,900
• C) $20,900
• D) $28,400
• E) $35,900