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Question(s) / Instruction(s):

Use the following information and the indirect method to calculate the net cash provided or used by operating activities:

Net income                                                        $12,600

Depreciation expense                                   11,800

Payment on mortgage payable                  14,200

Gain on sale of land                                        7,400

Increase in merchandise inventory          2,700

Increase in accounts payable                      6,700

Proceeds from sale of land                          8,300

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