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Problem 1: Ocean Pines Company had net income $500,000. They also had depreciation expense of $150,000, an increase or (decrease) in accounts receivable of $-30,000, and an increase or (decrease) in inventory of $45,000. Ocean Pines prepares their Statement of Cash Flows using the indirect method. Use this information to determine the dollar value of cash provided or (used) by operating activities.
Financial Statement Analysis and Preparation
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