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Use the Following Information and the Indirect Method to Calculate

question 113

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Use the following information and the indirect method to calculate the net cash provided or used by operating activities:  Net income $85,300 Depreciation expense 12,000 Gain on sale of land 7,500 Increase in merchandise inventory 2,050 Increase in accounts payable 6,150\begin{array} { | l | r | } \hline \text { Net income } & \$ 85,300 \\\hline \text { Depreciation expense } & 12,000 \\\hline\\\hline \text { Gain on sale of land } & 7,500 \\\hline \text { Increase in merchandise inventory } & 2,050 \\\hline \text { Increase in accounts payable } & 6,150 \\\hline\\\hline \end{array}

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Definitions:

Non-Hispanic Whites

Individuals residing in the United States who identify as white and are not of Hispanic or Latino origin, according to demographic and census categories.

Hispanics

A term commonly used in the United States to refer to people of Spanish-speaking origin or ancestry, including those from Latin America and Spain.

Poverty Rate

The proportion of a population living below the poverty line, reflecting the percentage of people whose income falls below the threshold considered necessary to meet basic living needs.

Lowest Quintile

Refers to the bottom 20% of a population when divided by economic measures such as income or wealth.

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