Business, 07.05.2021 19:20, christicamp4515

Gregor Company reports net income of $305,000 for the year ended December 31. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, and a $100,000 decrease in long-term notes payable. Calculate the cash provided (used) in operating activities using the indirect method.

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Gregor Company reports net income of $305,000 for the year ended December 31. It also reports $93,70...