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Question(s) / Instruction(s):

A company's income statement showed the following: net income, $133,000; depreciation expense, $34,500; and gain on sale of plant assets, $18,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,300; merchandise inventory increased $22,500; prepaid expenses decreased $7,100; accounts payable increased $4,300. Calculate the net cash provided or used by operating activities.

a)            -$153,000

b)            $148,200

c)            $174,200

d)            -$166,700

e)            $146,200

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