Question

Leather Shop earned a net income of $57,000 after deducting depreciation of $5,000 and all other expenses. Current assets decreased by $4,000, and current liabilities increased by $8,000. How much was Leather Shop’s cash provided by operating activities (indirect method)?

  • $40,000 
  • $66,000
  • $48,000
  • $74,000

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Accounting

Financial Accounting

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