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A company's income statement showed the following: net income, $144,000; depreciation expense, $40,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,400; merchandise inventory increased $28,000; prepaid expenses increased $8,200; accounts payable increased $5,400. Calculate the net cash provided or used by operating activities.
a $155,000.
b $150,600.
c $161,800.
d $183,000.
e $157,000.
Determine the gross profit for the year under each of the three methods and explain varying viewpoints why each of the three inventory costing methods may best reflect the results of operations for 2012.
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Buchanan Enterprises has projected its income before taxes as follows.
this is my situation i own a used car lot i sold and report to department of revenue in sales the amount of 720.000
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