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Downsview Corp. reported net income for calendar 2020 of $ 375,000. Assume now that Downsview Corp. follows ASPE. Additional information follows:
Depreciation on property, plant and equipment.............. $ 187,500
Bad debts expense.......................................................... 68,750
Purchase of equipment................................................... 31,250
Interest paid on long-term bonds.................................... 18,750
Loss on sale of equipment............................................... 106,250
Question 1: Based on the above information, the cash provided by operating activities (indirect method) for calendar 2020 is
Select one:
Option a. $ 737,500.
Option b. $ 706,250.
Option c. $ 756,250.
Option d. $ 787,500.
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