Compute amount of cash provided by operation activity

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Reference no: EM13140750

Garagiola Company had net income in the current year of $ 430,000. Depreciation expense for the year totaled $ 67,000. During the year the company experienced an increase in accounts receivable ( all from sales to customers) of $ 35,000 and an increase in accounts payable ( all to suppliers) of $ 56,000.

Compute the amount of cash provided by or used for operating activities by the indirect method.

Reference no: EM13140750

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