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Question - Chaffee Company's financial statements show a net loss of $180,000. The following items also appear on Chaffee's balance sheet:
Depreciation expense $84,000
Accounts receivable increase 120,000
Inventory decrease 48,000
Accounts payable decrease 24,000
Accrued liabilities increase 36,000
Required - What is Chaffee's net cash flow from operating activities? The company uses the indirect method.
a. $84,000
b. ($180,000)
c. $348,000
d. ($156,000)
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